One-Page Deal Sheet
Inergy to Acquire Bakken Rangeland Crude Logistics
Inergy, L.P. Rangeland Energy
Announced Date
November 05,2012
Transaction Type
Asset
Location
Region
Williston Basin
Country
United States
State
North Dakota
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Transaction Details: Require Private Equity Subscription
Inergy Midstream, L.P. , has agreed to purchase Rangeland Energy LLC, the owner and operator of the COLT crude oil rail terminal, storage, and pipeline facilities for $425 million, subject to certain performance milestones and customary working capital adjustments.
As discussed below, Inergy Midstream has entered into an agreement to sell $225 million of common units in a private placement and has obtained committed unsecured debt financing to fund the balance of the acquisition purchase price.
The COLT Hub is strategically located near the town of Epping in Williams County, North Dakota, in…