Brazos Midstream’s subsidiary, Brazos Midland, has completed an expansion of its senior credit facility to $1.1 billion from $225 million in commitments from a syndicate of banks. These funds support the ongoing expansion of Brazos’ natural gas gathering and processing system throughout the Midland Basin.
“In a matter of just three years, Brazos has secured long-term dedications for gas gathering and processing services covering over 375,000 acres with leading energy producers in the Midland Basin,” William Butler, chief financial officer of Brazos, said. “With this newly expanded bank facility, along with the continued support of our equity partners, Brazos has fully secured the capital sources needed to complete the aggressive buildout of our Midland business as we continue to generate material growth in operating cash flow.”
BOK Financial served as lead arranger and administrative agent along with Bank OZK, Citizens Bank, Fifth Third Bank, JPMorgan Chase Bank, KeyBanc Capital Markets and The Huntington National Bank serving as joint lead arrangers.
Harris Finley Bogle provided legal counsel to Brazos and Baker Botts served as counsel to the lender group.
