Warbug Looking to Sell Navitas Midstream for $3.0 Billion
Wednesday,October 24,2018
Private equity giant Warbug Pincus is looking to sell Navitas Midstream Partners, according to a report by Bloomberg.
According to the report, the PE firm is hoping to get $3 billion for the Navitas's assets.
Navitas is said to have hired Jefferies to run the process of locating a buyer.
As you might remember, Navitas was founded by Bruce Northcutt, along wtih $500 million equity commitment from Warbug back in 2014. Northcutt previously served as President of Copano Energy LLC, that was later sold to Kinder Morgan in 2013 for 5 million.
Navitas, according to the company website has 1600 miles of natural gas gathering pipelines as well as processing facilities.
Assets
Spraberry Gathering System
Crane Gathering System
Howard County Gathering System
Wolfcamp Shale News
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