East West Bank and Wells Fargo Bank acted as syndication agent and documentation agent, respectively. Proceeds from the revolving credit facility will be primarily used to fund capital expenditures, including completion of a new, under-construction 200 Mmcf/d cryogenic processing plant expected to be in service during Q4/17.
“We are pleased to work with ABN AMRO, who were able to use their industry knowledge to understand the nuances of our company resulting in an oversubscribed and successful syndication,” said Michael Christopher, CFO of KFM.
Casey Lowary, managing director of ABN AMRO, said, “We are pleased to partner with the ARM Energy team to support the growth of KFM. The company’s underlying acreage dedications and STACK footprint are the cornerstone of the credit facility being upsized from $150 million to $200 million.”
Durham Jones & Pinegar served as legal advisors to KFM. Thompson & Knight served as legal advisors to ABN AMRO.
Kingfisher Midstream is a partnership formed in 2015 with HPS Investments Partners to provide crude oil gathering and natural gas gathering and processing services in the STACK play of Oklahoma.