Kirkland & Ellis advised Dallas-based private equity firm Tailwater Capital in its definitive agreements to acquire NorTex Midstream from Castleton Commodities International. NorTex operates the largest portfolio of non-utility gas storage facilities in North Texas, which facilities have operated consistently for nearly 60 years, serving as critical infrastructure for the greater Dallas-Fort Worth market. NorTex’s asset base includes 36 Bcf of depleted reservoir working gas capacity, 83 total miles of natural gas transportation pipelines, as well as the Tolar Hub – the largest natural gas hub in North Texas. Following the close of the transaction, which is subject to customary regulatory and closing conditions, NorTex will retain its headquarters in Houston, its three field operation sites and will continue to be led by the current management team.
The Kirkland team was led by transactional partners Kevin Crews and John Furlow; and also included associates Cale Curtin, Abbey Zuech, Tess Dennis, Sara Phipps and Parker Collins; environmental partner Paul Tanaka and associate Ty’Meka Reeves-Sobers; tax partners David Wheat and Lane Morgan; energy regulatory partner Brooksany Barrowes and associate Ammaar Joya; executive compensation partner Stephen Jacobson and associate Brian Valcarce; employment & labor partner R.D. Kohut, and associates Alexander Flynn-Tabloff and Paul Vasiloff; employee benefits of counsel Patrick Ryan; debt finance partners Lucas Spivey and Arthur Lotz, and associates Steven Keithley and Chris Gambini; transactional partners Hayley Hollender and Thomas Laughlin and associate William Eiland; and antitrust & competition partners Carla Hine and Marin Boney, and associate Kelsey Laugel.