One-Page Deal Sheet
Targa Acquires Permian Midstream Player Outrigger Energy for $1.5B
Targa Resources Corp. Outrigger Energy Llc
Announced Date
January 23,2017
Close Date
March 01,2017
Transaction Type
Corporate
Location
Region
Permian - Midland Basin,Permian - Delaware Basin
Country
United States
State
Texas
County
Loving ,Winkler ,Ward ,Reeves ,Pecos ,Martin ,Howard ,Borden
Play
Transaction Details: Require Private Equity Subscription
Outrigger Energy LLC has signed a deal where Targa has agreed to acquire Outrigger’s three midstream subsidiaries in the Permian Basin for cash consideration of up to $1.5 billion.
Outrigger Permian includes natural gas gathering and processing and crude oil gathering systems spanning Loving, Winkler, Ward, Reeves and Pecos Counties, Texas in the Delaware Basin, and Martin, Howard and Borden Counties, Texas in the Midland Basin.
Outrigger Energy is a private-equity (Kayne Anderson and Denham Capital) backed midstream company.
Under the terms of the agreements, Outrigger and its affiliates…