Akin Advises Diamondback Energy in its Sale of Interests in BANGL to MPLX
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(Houston) – Akin represented Diamondback Energy Inc. in its entry into a definitive agreement to sell, together with WhiteWater, 55% of the interests in BANGL, LLC to MPLX LP for $715 million. The transaction is expected to close in July 2025 and is subject to customary closing conditions. Following closing, the BANGL Pipeline will be a wholly-owned asset of MPLX.
The BANGL pipeline system transports up to 250 thousand barrels per day of natural gas liquids from the Permian basin of Texas to fractionation markets along the Gulf Coast.
The Akin team was led by corporate partners John Goodgame and Dasha Hodge and included tax partner Alison Chen; antitrust and international competition partner Brian Rafkin; corporate associate Andrea Cabada and tax associate Samir Halawi.
For further information on the transaction, please click here.
Akin is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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