Northwind Midstream Partners Announces Completion of $700 Million Senior Secured First Lien Term Loan
Northwind Midstream Partners LLC (“Northwind” or the “Company”) today announced that it has completed the issuance of a new $700 million Senior Secured First Lien Term Loan (the “Term Loan”). The Company will use the net proceeds from the Term Loan to repay its existing financing commitments and to fund the continued build-out and expansion of its off-spec gas gathering, compression, treating, sequestration and processing system located in Lea County, New Mexico. The Term Loan was led by EOC Partners and included Sixth Street, Stonepeak Credit, Mercuria Energy America and Main Street Capital Corporation.
Northwind Midstream Partners Significantly Expands Off-Spec Gas Treating, Gathering, Compression and Carbon Sequestration System in Lea County, NM
Northwind Midstream Partners LLC (“Northwind” or the “Company”) today announced that it has constructed and put into service 150 million cubic feet per day (MMcf/d) of high-circulation amine treating capacity, two acid-gas disposal and carbon sequestration wells, over 200 miles of large-diameter pipelines and 41,750 horsepower of compression across five compressor stations. Northwind’s system construction is underpinned by long-term commitments and greater than 165,000 dedicated acres from several of the basin’s leading public and private independent oil and gas producers.
