Baker Botts LLP advised EnLink Midstream on the deal.
EnLink Midstream, LLC (“ENLC”) acquired all of the equity interests in Amarillo Rattler, LLC, which owns a gathering and processing system in the Midland Basin. The purchase price for the transaction was $60 million (including $10 million to be paid in 2022) and an earnout capped at $15 million based on Diamondback Energy’s drilling activity on dedicated acreage above historical levels.
The Baker Botts team included: Preston Bernhisel (Partner, Dallas, Picture); Nic O’Brien (Associate, Dallas); Derek Gabriel (Associate, Dallas); Stephen Marcus (Partner, Dallas); Jordan Hahn (Senior Associate, Dallas); Aileen Hooks (Partner, Austin).
Involved fees earner: Preston Bernhisel – Baker Botts LLP; Derek Gabriel – Baker Botts LLP; Jordan Hahn – Baker Botts LLP; Aileen Hooks – Baker Botts LLP; Stephen Marcus – Baker Botts LLP; Nic O’Brien – Baker Botts LLP;
Law Firms: Baker Botts LLP;
Clients: EnLink Midstream LLC;