One-Page Deal Sheet
Energy XXI Monetizes GOM Grand Isle Gathering System
Corenergy Infrastructure Trust Energy XXI Gulf Coast, Inc
Announced Date
June 22,2015
Close Date
June 30,2015
Transaction Type
Asset
Transaction Details: Subscribe to see
Closing Announcement - June 30, 2015
CorEnergy Infrastructure Trust, Inc. has closed its previously announced acquisition of 100% of the Grand Isle Gathering System (the GIGS), a subsea, midstream pipeline system in the Gulf of Mexico, from Energy XXI USA, Inc. An EXXI affiliate has entered into a long-term, triple-net lease to operate the GIGS system.
David Schulte, Chief Executive Officer of CorEnergy, said: "We are delivering on our promise of a stable and growing dividend in an investor-friendly REIT structure. Our operating lease represents long-term contracted revenue for CorEnergy…
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