Goodnight Midstream expanded its revolving credit facility from $165 million to $320 million. ABN AMRO Capital USA served as administrative agent, book runner and sole lead arranger on the transaction.
Texas Capital Bank, Cadence Bank, East West Bank, Regions Bank and Wells Fargo acted as co-agents. The syndicated bank group also included Bank of Oklahoma, Citizens Bank and Iberia Bank.
The amended facility will fund expansion projects and support working capital requirements.
Casey Lowary, managing director at ABN AMRO, said, “We are pleased with the successful over-subscription of the increased credit facility and look forward to the continued relationship with this best in class management team. We are excited about our partnership with Goodnight Midstream and congratulate them on their impressive performance and the successful execution of their stated strategy.”
Goodnight Midstream provides oilfield water infrastructure to oil and gas producers. It owns and operates a network of water gathering pipelines and saltwater disposal wells focused on gathering and disposing of produced saltwater for its customers.