“This transaction is a very important milestone for our team,” said Fritz Brinkman, Chief Executive Officer of Align. “Over the past three years, we have created significant value for our stakeholders through acquiring and connecting underutilized gathering and processing assets to create an extensive system. This platform now serves some of the best producers in the basin.”
Jason Downie, Managing Partner at Tailwater, said, “We are proud of the execution success demonstrated by Fritz Brinkman and his team at Align. Their ability to create a vertically integrated midstream asset and to achieve a strong return for our investors is second to none. The Align team has built a best-in-class asset centered on customer service that will provide meaningful value to Enable’s midstream strategy.”
The transaction is subject to regulatory approval and closing conditions and is expected to close as soon as practicable after such regulatory approvals and closing conditions have been satisfied.
About Align Midstream Partners
Align is a Dallas-based midstream company focused on servicing producers’ needs in East Texas and North Louisiana. Align operates a 100-million cubic feet per day cryogenic natural gas processing plant in Panola, Texas, and approximately 190 miles of natural gas gathering pipelines across Rusk, Panola and Shelby counties in Texas and DeSoto Parish in Louisiana. Align’s assets are underpinned with long-term, fee-based contracts, including approximately 100,000 gross acres of dedication from producer customers.
About Enable Midstream Partners
Enable owns, operates and develops strategically located natural gas and crude oil infrastructure assets. Enable’s assets include approximately 12,900 miles of gathering pipelines, 14 major processing plants with approximately 2.5 Bcf/d of processing capacity, approximately 7,800 miles of interstate pipelines (including Southeast Supply Header, LLC of which Enable owns 50 percent), approximately 2,200 miles of intrastate pipelines and eight storage facilities comprising 85.0 billion cubic feet of storage capacity.