Kirkland & Ellis LLP represented Alberta Investment Management Company (AIMCo), which along with GIC Private Limited, Singapore’s sovereign wealth fund, and Alinda Capital Partners, committed to fund Howard Midstream Energy Partners, LLC’s (HEP) strategic partnership with WPX Energy (NYSE:WPX) to develop crude oil and natural gas gathering and processing infrastructure in the core of the Delaware Basin. HEP will complete construction of an approximately 50-mile crude oil gathering system, build a new cryogenic natural gas processing complex with an initial capacity of 400 million cubic feet per day, and build associated natural gas and product pipelines. HEP will serve as operator of the assets. The 50/50 joint venture is supported by an area of mutual interest of more than 600 square miles in Lea and Eddy Counties, New Mexico, and Reeves and Loving Counties, Texas, with 50,000 net acres currently dedicated by WPX. The full release is available here.
The Kirkland team was led by corporate partner Adam Larson and associates Cy Jones, Jackie Kelso, Leslie Vaughn, John Montgomery and Hannah Marshall; corporate partner Jonathan Castelan, with respect to oil and gas matters; and tax partners Chad McCormick and Mark Dundon and associate Tim Campany.