In February 2019, First Infrastructure Capital acquired WhiteWater, including its 60% stake in Agua Blanca, a Delaware Basin intrastate natural gas pipeline system. Contemporaneous with this transaction, First Infrastructure Capital also entered into definitive agreements to acquire WPX Energy, Inc.’s 20% ownership stake in Agua Blanca. Agua Blanca is a natural gas residue pipeline servicing the Delaware Basin. The system consists of ~90 miles of 36” diameter pipeline and 70 miles of smaller diameter pipeline crossing portions of Culberson, Loving, Pecos, Reeves, Ward and Winkler counties. The initial capacity is ~1.4 Bcf/d with significant expansion plans underway. The asset is supported by multiple, substantial, long-term, take or pay contracts. The Agua Blanca system has a multitude of direct downstream connections which provide shippers on the system access to multiple markets.
Location: United States, Texas, Austin
Investors 3
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| 05.02.2019 | Term Sheet — Tuesday, February 5 | SLACK IPO Good morning, Term Sheet readers. Paid Content How can you protect what you can't see? F... | fortune.co... |