Arclight-backed Midcoast Energy sells East Texas business to Momentum Midstream

• The East Texas Business consists of an East Texas Haynesville-to-Gulf Coast midstream business
• Jefferies was financial advisor to Midcoast while Latham & Watkins served as legal advisor
• ArcLight is focused on energy, infrastructure and energy transition

Midcoast Energy, which is backed by ArcLight, has sold its East Texas operating platform, to Houston-based gas company Momentum Midstream.

Momentum Midstream’s backers include EnCap Flatrock Midstream.

The East Texas Business consists of an East Texas Haynesville-to-Gulf Coast midstream business providing in-basin gathering, processing and treating, as well as long-haul transportation to rapidly growing end-markets, including the U.S. Gulf Coast.

During its ownership of Midcoast, ArcLight invested over $300 million in the expansion of the East Texas Business, including through the development and commercialization of the CJ Express expansion project, providing 1 Bcf/d of natural gas transportation services to the U.S. Gulf Coast LNG markets.

“The East Texas Business plays an important role providing domestic and international markets access to clean, affordable, and reliable energy resources produced in the Haynesville. ArcLight is excited to see it continue to grow under the ownership of the experienced team at Momentum Midstream,” said Dan Revers, founder and managing partner of ArcLight.

For this transaction, Midcoast was served by Jefferies LLC as exclusive financial advisor and Latham & Watkins LLP as legal advisor.

ArcLight is focused on energy, infrastructure and energy transition with a successful long-term track record. Founded in 2001, the firm invested approximately $27 billion in 122 transactions.