Troutman Houston Partners Led National Team in Western Midstream $1.6B Brazos Delaware Deal

Western Midstream Partners said Wednesday that it has acquired Brazos Delaware II, a Fort Worth-based private gathering and processing platform in the Delaware Basin in West Texas, for about $1.6 billion in cash and stock. Western Midstream, which is based in The Woodlands, said it will pay about $800 million in cash and issue about $800 million in common units at the close of the deal that is expected by June 30.

Christopher B. Dial is Western Midstream’s general counsel, and Troutman Pepper Locke advised the company with a national team led by Houston Partners Jon Daly and Jennie Simmons. Vinson & Elkins served as outside legal advisor to Brazos.