Sale of the Delaware Basin Subsidiary

Lucid II started in the year 2015, December the company for Agave Energy on 2016 1st of September. 15 months later, Lucid II improved in its processing capacity by a percent of 750 on the system of South Carlsbad. It added 210 miles approximately of gathering pipeline natural gas. The Riverstone Holdings and Goldman Sachs Merchant banking division said their firsthand knowledge about Delaware Basin, capital accessibility, and their experience as investors of energy exclusively qualified them to be the sponsor of Lucid II’s sustained growth.
The Goldman Sachs Merchant banking division and Riverstone Holdings bought Delaware Basin Subsidiary at an approximate of cash $ 1.6 billion. Transaction incorporated debt financing by Jeffers LLC. The first quarter of the year 2018, a closing was an expectation, which was subject to closing conditions and customary approvals. Lucid II reserved its name, it operated as Goldman Sachs MBD and Riverstone Portfolio Company. Members of the management team of Lucid II remained in their present roles. Assets for Lucid II contained within the transaction were located in the central of Delaware Basin and were referred to as processing systems.
Assets comprised of 1700 miles of natural gas pipelines gathering approximately and each day 585 million cubic feet. Lucid II served the supermajor leading gas and oil producers. Riverstone Holdings said they were delighted to partner with Goldman Sachs MBD and Riverstone Holdings to help Lucid II reach its next phase, as it served the customers base, expanding needs. Goldman Sachs MBD expressed their excitement on the chance to partner together with Lucid II, to develop its growth being the leading processing business, and independent gas gathering in Delaware Basin. Riverstone was founded by Pierre Lapeyre and David Leuschen.
Jefferies LLC proceeded special financial adviser of Lucid II and linking the transaction, Jefferies acted as the main provider of committed debt financing.