Navigator Energy Services (NES) closed on a senior secured revolving credit facility in the amount of $125 million. NES is a crude-oil-focused midstream company funded by management and First Reserve’s Energy Infrastructure Fund.

The credit facility is a $125 million senior secured leverage-based five-year revolving credit facility with an accordion feature of up to an additional $75 million.

Wells Fargo acted as administrative agent and collateral agent; Wells Fargo Securities and Amegy Bank acted as joint lead arrangers and joint bookrunners; Amegy Bank acted as syndication agent; and Citibank acted as documentation agent.

Proceeds from the credit facility will be used for further expansion of the NES Big Spring Gateway System, a more than 400-mile crude oil gathering and transportation system serving the Midland Basin.

“We are very pleased to be working with this prestigious group of lenders. This financing diversifies our sources of capital and is an important milestone as we continue to grow Navigator into a major crude oil gathering, transportation and storage company serving producers in the Permian Basin,” said Navigator CEO John O’Shea. “Together with our $250 million equity commitment from First Reserve, we have the financial strength to continue to grow and expand our footprint in the Permian’s Midland Basin.”

Dallas-based Navigator Energy Services provides oil and natural gas producers with comprehensive midstream services including crude oil and natural gas gathering, transportation, storage and natural gas compression and processing.