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Utica-Focused Blue Racer Secures $800 Million Credit Facility
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Blue Racer Midstream LLC has secured a five-year, $800 million credit facility, which can be expanded to $1 billion in the future.
Formed in December 2012, Blue Racer is a joint venture between Caiman Energy II LLC and Dominion Resources dedicated to providing Utica Shale producers with midstream services and the ability to receive the highest value for their products.
Together with the private equity commitment from Caiman and the midstream assets contributed by Dominion, the credit facility supports the execution of Blue Racer’s aggressive plan to develop midstream assets in the Utica Shale over the next two to three years, including natural gas gathering, processing, fractionation and NGL transportation.
Wells Fargo Securities, LLC and RBS Securities Inc. acted as joint bookrunners…
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