Latest Thunderbird Midstream News
May 22, 2018
Paul Hastings LLP advised Great Salt Plains Midstream, LLC on the deal Great Salt Plains Midstream Holdings, LLC (“GSPM”) recently closed on its acquisition of Thunderbird Midstream LLC. Both firms have headquarters in Oklahoma City. The acquired assets include the Thunderbird Midstream cryogenic natural gas plant with 20 million cubic feet of natural gas per day (MMcf/d) processing capacity. The plant began operations in 2016 and is located on more than 40 acres to allow for expansion to meet increased demand. The Thunderbird assets provide immediate processing capacity with additional firm market outlets for residue and natural gas liquids (“NGLs”). The transaction includes a 34 mile natural gas pipeline gathering system. The acquisition continues the buildout of GSPM’s infrastructure in the prolific STACK play of northwestern Oklahoma. GSPM also has a state-of-the-art cryogenic processing facility under construction in Major County, Oklahoma, called the Silver Lake Plant, which will have an initial capacity to process up to 70 MMcf/d, with expansion capacity of up to 220 MMcf/d. Additionally, GSPM is constructing over 90 miles of natural gas gathering pipelines and multiple compressor stations and expects the new facilities to be in service in July 2018. Energy M&A partner Jimmy Vallee (Picture) led the Paul Hastings team, which also included partners Sam Cooper and Greg Nelson; and associates Monica Diddell and Stephen Perry.