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Latham & Watkins Advises Midcoast Energy, an ArcLight Portfolio Company, in Sale of Its East Texas Business to Momentum Midstream

September 22, 2022
Firm advised Midcoast and ArcLight in the divestiture of East Texas midstream platform.

Midcoast Energy, LLC (Midcoast), a subsidiary of ArcLight Energy Partners Fund VI, L.P. (with its affiliates, ArcLight), has announced the sale of its East Texas operating platform (the East Texas Business) to Momentum Midstream LLC, a subsidiary of EnCap Flatrock Midstream and other financial partners. The East Texas Business consists of an East Texas Haynesville-to-Gulf Coast midstream business providing in-basin gathering, processing and treating, as well as long-haul transportation to rapidly growing end-markets, including the US Gulf Coast.

Latham & Watkins LLP represented Midcoast and ArcLight in the transaction with a Houston-based deal team led by partners Justin Stolte and James Garrett, with associates Justin Thekkekara, Omar Shariff, Haley Sandoval, and Thomas Hillebrand. Advice was also provided on finance matters by Houston partner Catherine Ozdogan, with associates Benjamin Gelfand, Kirby Swartz and Chris Wood; on antitrust matters by Washington, D.C. partner Jason Cruise, with associate Mary Casale; on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum; on regulatory matters by Washington, D.C. partner Patrick Nevins; on environmental matters by Los Angeles/Houston counsel Joshua Marnitz; on insurance matters by Los Angeles partner Drew Levin, with San Diego associate Hannah Cary; and on real estate matters by San Diego partner Robert Frances.