Blue Racer Midstream announced that it secured a five-year, $800 million credit facility, which can be expanded to $1 billion in the future.

Wells Fargo Securities and RBS Securities acted as joint bookrunners and joint lead arrangers on the credit facility. A syndicate of 19 banks participated in the credit facility, with Comerica Bank, RBC Capital Markets, SunTrust Robinson Humphrey and U.S. Bank also acting as joint lead arrangers.

Formed in December 2012, Blue Racer is a joint venture between Caiman Energy II and Dominion Resources dedicated to providing Utica Shale producers with midstream services and the ability to receive the highest value for their products.

Together with the private equity commitment from Caiman and the midstream assets contributed by Dominion, the credit facility supports the execution of Blue Racer’s aggressive plan to develop midstream assets in the Utica Shale over the next two to three years, including natural gas gathering, processing, fractionation and NGL transportation.

Jack Lafield, Blue Racer’s CEO, said, “We are delighted to have completed this financing with Wells Fargo and RBS and such a prestigious group of additional lenders. The size of the credit facility is a testament to our strong relationship with the financial community, the strength of Caiman and Dominion’s track records and the tremendous response Blue Racer has received from our producer customers in the Utica Shale. The proceeds will allow us to continue to execute our growth strategy for Blue Racer’s midstream asset base while diversifying our sources of capital. Our goal is to continue to be the Utica’s premier midstream company by providing superior customer service and the region’s best opportunity to gather and process rich gas and market NGLs.”