$1+ Billion Bid to Acquire Pipeline Systems in Texas
Represented a Houston-based MLP in its bid to acquire over $1 billion of natural gas and natural gas liquids pipelines and processing plants in Texas.
Business Transactions
Magellan Midstream in its $435 Million Sale to Buckeye Partners
GableGotwals represented Magellan Midstream Partners, L.P. in connection with its agreement to sell its independent terminals network comprised of 26 refined with approximately 6 million barrels of storage located primarily in the southeastern U.S. to Buckeye for $435 million.
$1.1 Billion Revolving Credit Facilities
GableGotwals represented OGE Energy Corp. and its subsidiary, Oklahoma Gas and Electric Company, as sole and lead counsel in two new unsecured five-year revolving credit facilities with a combined borrowing capacity of $1.1 billion.
$435 Million Sale of Refined Products Terminals
GableGotwals advised Magellan Midstream Partners, L.P. in its $435 million sale of 26 refined petroleum products terminals located primarily in the southeastern U.S.
Crude Oil Pipeline Transaction
Represented a client involving a Texas crude oil pipeline and related assets owned by an entity in which the client has a 50% interest. The client bought a crude oil pipeline system in the Houston Gulf Coast area and also consented to the transfer of the other 50% interest to another owner in a transaction valued at over $1 billion
$1.5 Billion Credit Agreement
The firm represented WPX Energy, Inc. in connection with the amendment and restatement of its $1.5 billion senior revolving credit facility, including letter of credit and swingline subfacilities and an accordion feature allowing for an increase of an additional $300 million.
$90 Million Acquisition of Producing Oil and Gas Properties
A Houston-based client was represented by GableGotwals in the purchase of producing oil and gas properties and undeveloped leasehold in Western Oklahoma.
Acquisition of $160 Million Properties
GableGotwals represented an Oklahoma-based client in the $160 million purchase of producing oil and gas properties and undeveloped leasehold in the Oklahoma and Texas panhandle region.