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EagleClaw Midstream Sues Energy Spectrum/CapRock

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   |    Monday,May 11,2020

Blackstone backed-EagleClaw said it is suing its former owners of Caprock Midstream for failing to disclose tens of millions of dollars in liabilities during acquisition talks.

EagleClaw in 2018 acquired natural gas pipeline operator Caprock Midstream Holdings from Energy Spectrum Capital and Caprock Midstream Management for $950 million. After the deal closed, EagleClaw discovered “numerous issues and claims for liabilities” with the pipeline assets.

One such bill was from Cimerax Energy for $22 million the lawsuit said.

EagleClaw is seeking undisclosed damages for breach of contract.

 


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