[Context: On November 7, Tailwater Capital-backed Goodnight Midstream announced upsizing its credit facility to $420m. The company has operations in the Permian and Bakken, as well as the Eagle Ford and Powder River Basin. Further details and related links are below.]
Goodnight Midstream Upsizes Its Credit Facility to $420M to Support Continued Infrastructure Growth
DALLAS, Nov. 7, 2018 /PRNewswire/ — Goodnight Midstream, LLC, a leading midstream produced water infrastructure company, announced today it has expanded its revolving credit facility to $420 million from $320 million. ABN AMRO Capital USA, LLC (“ABN AMRO”) and Wells Fargo Bank, National Association (“Wells Fargo”) served as joint lead arrangers. Additionally, ABN AMRO served as administrative agent.
The increased facility will fund Goodnight’s continued strategic growth initiatives in the Permian, Bakken and Eagle Ford shales as well as support working capital requirements. Texas Capital Bank, Regions Bank, East West Bank and Cadence Bank acted as co-agents. The syndicated bank group also includes Citizens Bank, BOKF and Iberia Bank.
Andrejka Bernatova, Chief Financial Officer of Goodnight Midstream commented, “We appreciate the continued support of our syndicate group of banks, who provide us the financial flexibility to support our infrastructure growth as we continue to expand with our producer customers.”
Casey Lowary, ABN AMRO Managing Director, said, “This increase is representative of the success and hard work of Goodnight Midstream and will continue to fund their growth into the future. We look forward to our continuing partnership with the Company and are excited about their prospects going forward.”
About Goodnight Midstream, LLC.
Goodnight Midstream provides trusted oilfield water infrastructure to oil and gas producers. The Company owns and operates an extensive network of water gathering pipelines and saltwater disposal wells focused on gathering and disposing of produced saltwater for its customers. Goodnight’s midstream approach minimizes environmental impact and improves health and safety while lowering lease operating expense and improving reliability for its customers. The Company is supported by a team of highly experienced engineers and operating professionals. Goodnight Midstream operates in the most active basins in the United States with significant positions in the Permian Basin and the Bakken Formation as well as an expanding footprint in the Eagle Ford Shale and the Powder River Basin.