Global Infrastructure SherpaJ.P. Morgan acted as financial advisor to NextEra Energy Partners on the sale of its STX Midstream assets
NextEra Energy Partners sold its STX Midstream assets to Kinder Morgan for $1.815 billion, with J.P. Morgan acting as financial advisor to NextEra.
Source Intelligence
The deal will add over 460 miles of pipeline to company’s assets upon closing early next year. "Overall, Kinder Morgan will receive 462 miles of pipeline with 4.9 Bcf/D of transport capacity." "STX Midstream owns and operates Eagle Ford Midstream, a 158-mile residue line connecting the Eagle Ford Basin to the Agua Dulce Hub in Nueces County, Texas." "STX Midstream also owns a 50% interest in Dos Caminos LLC, which is operated by, and the other 50% interest owned by, Howard Energy Partners (HEP). Dos Caminos has placed in service a 62-mile pipeline that connects HEP’s existing midstream pipeline and facilities in Webb County, Texas, to KMI’s new Eagle Ford pipeline, which was recently placed in service." "Initially, the company plans to fund the transaction with cash on hand and short-term borrowings."
"Kinder Morgan has agreed to acquire NextEra Energy Partner’s South Texas assets, STX Midstream, for $1.815 billion in cash."
"Kinder Morgan has agreed to acquire NextEra Energy Partner’s South Texas assets, STX Midstream, for $1.815 billion in cash."
"STX Midstream includes a 90% interest in the NET Mexico pipeline; MGI Enterprises, a Pemex affiliate, owns the other 10%."
"STX Midstream includes a 90% interest in the NET Mexico pipeline; MGI Enterprises, a Pemex affiliate, owns the other 10%."
"STX Midstream also owns a 50% interest in Dos Caminos LLC, which is operated by, and the other 50% interest owned by, Howard Energy Partners (HEP)."