Goodnight Midstream Secures Debt Financing
DALLAS, Nov. 1, 2017 /PRNewswire/ — Goodnight Midstream, LLC, (“Goodnight” or the “Company”) a leading oilfield water midstream company, announces that the participants in its senior secured revolving credit facility, for which ABN AMRO Capital USA, LLC (“ABN AMRO“) is the administrative agent, book runner and sole lead arranger, have expanded the facility amount to $165 million to provide additional capital for the Company’s growth and future operations.
Upon closing, Goodnight has more than $100 million of available liquidity to fund continued growth and expansion opportunities in the Bakken and Permian basins. The consortium of lenders, led by ABN AMRO, includes Texas Capital Bank, East West Bank, Cadence Bank and BOK Financial.
Patrick Walker, Chief Executive Officer of Goodnight Midstream said, “The continued support and confidence of the well-respected banks in our consortium led by ABN AMRO represents another level of validation in our team’s ability to execute on safe, clean, cost-effective midstream saltwater disposal systems. This financing, done at attractive terms, provides us the financial flexibility to execute on our growth initiatives and support our ongoing commitment to customers of lowering lease operating expense and improving reliability.”
About Goodnight Midstream, LLC.
Goodnight Midstream provides trusted professional fluids management services to its customer base. The Company owns and operates an extensive network of water gathering pipelines and saltwater disposal wells focused on gathering and disposing of produced saltwater for oil and gas producers. Goodnight’s midstream approach minimizes environmental impact and improves health and safety while lowering lease operating expense and improving reliability for its customers. Goodnight is supported by a team of highly experienced engineers and operating professionals. In addition to Goodnight’s leading position in North Dakota, Goodnight has an emerging presence in Wyoming’s Powder River Basin and the Permian Basin of Texas and New Mexico. For more information, please visit www.gnmidstream.com.
Goodnight Midstream, LLC
SOURCE Goodnight Midstream