Old Ironsides Energy and EnCap Flatrock Midstream portfolio company Brazos Midstream has completed the sale of its Midland Basin natural gas gathering and processing assets to ONEOK for $4.4 billion. The system includes about 700 miles of pipeline and 1.1 billion cubic feet per day of processing capacity. Fort Worth, Texas-headquartered Brazos expanded its Midland Basin operations over the past four years.
Earlier this year, Brazos sold its Delaware Basin assets to Western Midstream Partners. Old Ironsides is an energy-focused private equity firm. EnCap Flatrock Midstream has raised five institutional funds totaling nearly $10 billion.
Source: PE Hub · Summarized by HeadlinesBriefing