Goodnight Midstream expanded its senior secured facility to $165 million to provide additional capital for the company’s growth and future operations. ABN AMRO Capital USA is the administrative agent, book runner and sole lead arranger.
Upon closing, Goodnight has more than $100 million of available liquidity to fund continued growth and expansion opportunities in the Bakken and Permian basins.
In addition to ABN AMRO, the consortium of lenders includes Texas Capital Bank, East West Bank, Cadence Bank and BOK Financial.
Patrick Walker, CEO of Goodnight Midstream, said, “The continued support and confidence of the well-respected banks in our consortium led by ABN AMRO represents another level of validation in our team’s ability to execute on safe, clean, cost-effective midstream saltwater disposal systems. This financing, done at attractive terms, provides us the financial flexibility to execute on our growth initiatives and support our ongoing commitment to customers of lowering lease operating expense and improving reliability.”
Goodnight Midstream owns and operates an extensive network of water gathering pipelines and saltwater disposal wells focused on gathering and disposing of produced saltwater for oil and gas producers.