Midstream provider Lucid Energy Group completed the refinancing and expansion of its two senior revolving credit facilities. Wells Fargo served as administrative agent for both transactions.

Wells Fargo additionally served as sole bookrunner and joint lead arranger alongside Cadence Bank in a $235 million facility supporting Lucid’s operations in the Midland Basin.

Wells Fargo was also sole lead arranger and sole bookrunner with Cadence Bank and BBVA Compass serving as co-syndication agents in a $350 million facility supporting Lucid’s operations in the Delaware Basin.

Locke Lord served as counsel to Lucid with Tammi Niven leading the firm’s legal team from its Houston office. Vinson & Elkins, led by Erec Winandy, a partner in the firm’s Dallas office, represented Wells Fargo as the administrative agent for a syndicate of 13 banks.

“We are pleased to have the continued support of our bank group,” said Lucid Executive Vice President and CFO Ryan Moss. “This expanded financing, along with the addition of new banks to the syndicate, further strengthens our ability to provide our customers with critical support for their development efforts in the Permian Basin.”

Based in Dallas, Lucid is backed by more than $860 million in growth capital commitments from EnCap Flatrock Midstream. The new credit facilities bring Lucid’s total financing to more than $1.45 billion.