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Targa Resources Expands Joint Venture with Sanchez Midstream Partners

Houston – Paul Hastings LLP, a leading global law firm, announced today that the firm advised Targa Resources Corp., a leading provider of midstream services, on the expansion of Targa’s 50/50 gas gathering and processing joint venture with Sanchez Midstream Partners LP through merger of the entities that own the Carnero Gas Gathering Line and Raptor Gas Processing Facility.  The joint venture also increased its processing capacity through the acquisition of Targa’s 200 million cubic feet-per-day Silver Oak II Gas Processing Plant.

The expanded joint venture entered into a long-term firm gas gathering and processing agreement with a new dedication of over 315,000 gross acres in the Western Eagle Ford, operated by Sanchez Energy Corporation. The transactions related to the joint venture closed on May 22, 2018.

Energy M&A associate Isaac Griesbaum and partner James Vallee led the Paul Hastings team, which also included partner Greg Nelson and associates Monica Diddell and Chanse Barnes.

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