© 2012 The Texas Lawbook.
By Mark Curriden
Senior Writer for The Texas Lawbook
Dallas-based Cardinal Midstream is selling its natural gas processing, treatment, and pipeline systems in the Woodford Shale in Oklahoma to Atlas Pipeline Partners of Philadelphia for $600 million.
Thompson & Knight partners Wesley Williams and Arthur Wright are leading the transaction for Cardinal Midstream, which was founded in 2008 and is backed by private equity commitments from EnCap Flatrock Midstream and EnCap Investments. Other T&K lawyers advising on the deal are R. David Wheat and Anna Irion.
Williams and Wright represented Cardinal Midstream in other matters, including the 2010 purchase of these same assets in the Woodford Shale for $268 million.
The transaction is awaiting regulatory approval and is expected to close before the end of the year.
“While smaller than some of the more notable shale regions in the U.S., the Woodford basin is considered by many experts to be one of the nation’s thickest and highest-quality oil and gas reservoirs,” says Wright, who leads T&K’s oil and gas practice.
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