Simpson Thacher represented WPC Parent, LLC (a joint venture including WhiteWater Whistler Holdings, LLC, MPLX LP, and Enbridge Inc., “WhiteWater”) in its partnership with an affiliate of Targa Resources Corp. to reach final investment decision to move forward with the construction of the Blackcomb Pipeline after having secured sufficient firm transportation agreements with predominantly investment grade shippers, including, but not limited to, Devon Energy, Corp., Diamondback Energy, Inc., Marathon Petroleum Corp. and Targa Resources Corp.
The Blackcomb Pipeline is designed to transport up to 2.5 billion cubic feet per day (Bcf/d) of natural gas through approximately 365 miles of 42-inch pipeline from the Permian Basin in West Texas to the Agua Dulce area in South Texas. Supply for the Blackcomb Pipeline will be sourced from multiple upstream connections in the Permian Basin, including gas processing facilities in the Midland Basin and the Agua Blanca Pipeline in the Delaware Basin, a joint venture between WhiteWater and MPLX.
The Simpson Thacher team included Katy Lukaszewski, Shamus Crosby, Breen Haire, Andrew Kingsbury and Jack Davis (M&A); and Adam Arikat, Andrew Mandelbaum and Elizabeth Trask (Tax).