Kirkland & Ellis LLP represented Salt Creek Midstream in a midstream partnership between Ares Management, L.P. (NYSE:ARES) and ARM Energy Holdings, LLC to develop Salt Creek Midstream in the Delaware Basin.
Ares Management, L.P. (NYSE:ARES) and ARM Energy Holdings, LLC entered in a partnership to develop Salt Creek Midstream, LLC in the Delaware Basin. The Company is owned by funds managed by the Ares Private Equity Group and ARM Energy. ARM Midstream Management, LLC, a subsidiary of ARM Energy, will serve as operator of the project.
Once fully operational, Salt Creek will primarily be comprised of multiple cryogenic processing facilities, as well as gas and crude gathering pipelines, compression and treating facilities. The initial phase of the project is expected to be commissioned in April 2018, and by the end of 2018, Salt Creek is expected to have 260 million cubic feet per day of processing capacity, with additional expansion investments planned as producers are added to the system.
To date, Salt Creek has secured commitments for more than 250,000 dedicated acres from multiple Delaware Basin producers, which the Company expects will provide decades of high-return drilling inventory, driving additional project growth and scale in a rapidly expanding basin.
The Kirkland team was led by corporate partners Bill Benitez (Picture), Cyril Jones and Jonathan Castelan; debt finance partner Lucas Spivey and associate Ryan Copeland; and tax partner Mark Dundon.
Involved fees earner: William Benitez – Kirkland & Ellis; Jonathan Castelan – Kirkland & Ellis; Cyril Jones – Kirkland & Ellis; Ryan Copeland – Kirkland & Ellis; Lucas Spivey – Kirkland & Ellis; Mark Dundon – Kirkland & Ellis;
Law Firms: Kirkland & Ellis;
Clients: Salt Creek Midstream LLC;