Tall Oak Midstream subsidiaries TOMPC and TOM-STACK each closed a $75 million credit facility with accordion features that allow for expansions to $100 million.

Six banks participated in each of the credit facilities with Capital One acting as administrative agent, and Capital One Securities serving as one of three joint lead arrangers alongside BBVA Compass and BancFirst. Amegy Bank served as documentation agent. Additional participants are Bank of Oklahoma and KeyBank.

The new TOMPC credit facility replaces the prior TOMPC facility, which was set to mature on October 14, 2015. It will support planned expansions to Tall Oak’s natural gas gathering and processing system in the Central Northern Oklahoma Woodford (CNOW) play. The new TOM-STACK credit facility will help fund construction of Tall Oak’s recently announced crude oil gathering and transportation system in Oklahoma’s STACK play and the ongoing build-out of Tall Oak’s natural gas gathering and processing system in the STACK region. STACK is an acronym for the Sooner Trend, the Anadarko Basin and Oklahoma’s Canadian and Kingfisher counties. Both credit facilities mature on September 30, 2016.

“This additional financing enhances our capital structure and gives us the flexibility to construct our STACK crude oil system while we continue to expand our natural gas gathering and processing systems in both the STACK and the CNOW plays. This allows us to stay in front of producer demand for additional capacity across the region,” said Tall Oak CFO Max Myers. “We are very pleased to have the support of such an impressive banking group and particularly pleased to have the endorsement of two Oklahoma banks,” said Myers.

“Capital One is very pleased to serve as a lead arranger for these credit facilities,” said Stuart Gibson, managing director at Capital One Securities. “Tall Oak has demonstrated an exceptional ability to build and operate gathering and processing assets in the Mid-Continent, and we look forward to working with them as they continue to develop an impressive portfolio of assets in two of the most prolific hydrocarbon plays in the country.”