Legacy Texas Bank led a bank group on an amendment to Vaquero Midstream’s revolving credit facility, increasing the size of the facility to $225 million and extending the facility commitment for one year to December 2021.
The facility will be used for general corporate purposes, including funding capital expenditures, working capital, distributions to equity holders and operating expenses.
Other banks participating in the facility included ABN Amro Capital, Bank of Texas, Cadence Bank, Amegy Bank, Comerica Bank, East West Bank and Raymond James.
“The upsizing and extension of our credit facility is an additional example of our mission to form long-lasting and mutually beneficial relationships with all our business partners including producers, customers and lending institutions. We are pleased to have the support of our bank group and appreciate the confidence they demonstrated in our business with the upsizing of our credit facility,” said Gary E. Conway, CEO of Vaquero. “This upsized facility gives us plenty of capital for the growth projects we expect to be executing in the foreseeable future.”
Vaquero Midstream offers oil and gas producers a full suite of midstream solutions, including gathering, treating, processing, compression, liquids handling and transmission.