Canyon Midstream Partners announced it has secured a four-year, $50 million credit facility, which can be expanded to $100 million. Proceeds from the credit facility will fund canyon’s expansion plans in the Permian Basin, the Eaglebine play in East Texas and the Tuscaloosa Marine Shale.

The company said Wells Fargo Securities was the sole lead arranger and sole bookrunner of the credit facility. Wells Fargo Bank is the administrative agent under the credit facility, and Royal Bank of Canada acted as syndication agent. Vinson & Elkins served as counsel for Wells Fargo.

Michael Walsh, president and CEO of Canyon, said: “Canyon appreciates the opportunity to work with proven lenders to the midstream sector such as Wells Fargo and RBC. Their experience and understanding of Canyon’s expansion plans allowed this transaction to develop very quickly with attractive terms and flexibility for the next stage of our company’s growth. We believe the lending capabilities of Wells Fargo and RBC will enhance Canyon’s equity capital commitment from Kayne Anderson.”

Established in 1998, Kayne Anderson Energy Funds, with offices in Houston and Los Angeles, provides private equity financing primarily for high-growth oil and gas companies across North America. The firm has raised six dedicated energy private equity funds totaling over $4.3 billion in committed capital and invested in more than 90 portfolio companies.

Houston, TX-based Canyon Midstream Partners is a midstream company that seeks opportunities to create long-term value for its customers, investors and employees through operational improvements, organic and strategic growth and efficient capital investment. Canyon is backed by $300 million in equity commitments from Kayne Anderson Energy Funds, Canyon management and certain institutional investors.