Kirkland Advises Golden Gate, Hillstone on $600 Million Sale of Hillstone to NGL Energy

Kirkland & Ellis counseled Golden Gate Capital and Hillstone Environmental Partners, LLC on the sale by Golden Gate Capital of Hillstone to NGL Energy Partners LP (NYSE: NGL) for approximately $600 million, subject to certain adjustments. Hillstone provides water pipeline and disposal infrastructure solutions to producers with a core operational focus in the state line area of southern Eddy and Lea Counties, New Mexico and northern Loving County, Texas in the Delaware Basin. Hillstone has a fully interconnected produced water pipeline transportation and disposal system, which currently consists of 19 salt water disposal wells, representing approximately 580,000 barrels per day of permitted disposal capacity, and a newly-built network of produced water pipelines with approximately 680,000 barrels per day of transportation capacity. Hillstone also has an additional 22 permits to develop another 660,000 barrels per day of disposal capacity.
 
Read NGL Energy’s press release
 
The Kirkland team was led by transactional partners Jeremy Veit and Bill Benitez and associates Ahmed Sidik, Brice Lipman, Ben Rowe, Efren Lemus and Trevor Crowley; debt finance partner Samantha Good and associate Andrea Weintraub; tax partners David Kung and Devin Heckman; transactional partner Chad Smith and associate Will Eiland; and environmental transactions partner Paul Tanaka and associate Devi Chandrasekaran.