Simpson Thacher Advises Riverstone and Goldman Sachs in Financing of $1.6 Billion Acquisition of Lucid II
01.12.18
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The Firm is advising Riverstone Holdings and the Merchant Banking Division of Goldman Sachs in connection with the financing of the acquisition of Lucid II from Lucid Energy Group and EnCap Flatrock Midstream for $1.6 billion. The transaction is expected to close in the first quarter of 2018 and is subject to customary approvals and closing conditions.
Lucid II is a collection of natural gas gathering pipelines located in the core of the northern Delaware Basin. Lucid II serves the region’s leading supermajor and independent oil and gas producers, which together have made long-term dedications and production volume commitments from approximately 450,000 acres spanning Eddy and Lea counties in southeast New Mexico.
The Simpson Thacher team for this transaction includes Christopher Brown, Richard Sitton, Jason Hwang, Jim Doyle, Rustin Brown and Andrew Lanius (Banking and Credit); Tim Mulvihill (Environmental); and Sophie Staples (Tax).