Investment option closed for EPIC Crude Pipeline
Published by Lydia Woellwarth,
Editor
World Pipelines,
Noble Midstream Partners LP has announced it has closed its option with EPIC Midstream Holdings, LP to acquire a 30% equity interest in the EPIC Crude Pipeline. A US$104 million catch-up payment for the project was contributed at close.
About Noble Midstream Partners
Noble Midstream is a growth-oriented master limited partnership formed by Noble Energy, to own, operate, develop and acquire domestic midstream infrastructure assets. Noble Midstream currently provides crude oil, natural gas, and water-related midstream services in the DJ Basin in Colorado and the Delaware Basin in Texas.
About EPIC Pipeline
EPIC was formed in 2017 to build, own, and operate midstream infrastructure in both the Permian and Eagle Ford Basins. EPIC’s first two projects, the EPIC Crude Oil Pipeline and the EPIC NGL Pipeline, will transport crude and NGL across Texas for delivery into the Corpus Christi market. The EPIC Pipelines are backed by capital commitments from funds managed by the Private Equity Group of Ares Management, L.P.
Read the article online at: https://www.worldpipelines.com/business-news/11032019/investment-option-closed-for-epic-crude-pipeline/
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