Akin Gump Advises Rattler Midstream LP in Strategic Midland Basin Gas Gathering & Processing Joint Venture
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(Houston) On October 5, 2021, Rattler Midstream LP, a subsidiary of Diamondback Energy, Inc., and a private affiliate of an investment fund, completed an acquisition of a majority interest in a Midland Basin gas gathering and processing company from West Texas Gas, Inc. and its affiliates through a joint venture. A team from Akin Gump advised Rattler in the deal.
Rattler invested approximately $104 million in cash to acquire a minority interest in the joint venture. The joint venture’s assets primarily consist of an interconnected gas gathering system and six major gas processing plants servicing the Midland Basin with 925 MMcf/d of total processing capacity with additional gas gathering and processing expansions planned. More information may be found here.
The Akin Gump team was led by corporate partners Lisa Leiman Hearn and Gabe Procaccini, and included global corporate practice co-head John Goodgame, corporate counsel Niki Roberts and associate Amanda Thienpont, energy regulatory senior counsel Vera Neinast, and environmental practice head David Quigley and senior counsel Andrew Oelz.
Akin Gump Strauss Hauer & Feld LLP 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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