Trace Midstream Enters the Northern Delaware Basin with the Acquisition of LM Energy’s Natural Gas Gathering and Transportation Infrastructure
Vinson & Elkins advised Trace Midstream Partners II, LLC (Trace), a portfolio company of Quantum Capital Group (“Quantum”), in its entry into agreements with LM Energy Delaware, LLC (“LM Energy”), a portfolio company of Old Ironsides Energy, LLC (“Old Ironsides Energy”), to acquire its natural gas gathering and transportation assets in the Northern Delaware Basin.
Located in Eddy and Lea counties in New Mexico, LM Energy’s natural gas gathering and transportation system consists of high- and low-pressure gas pipelines with associated compression, dehydration, condensate handling, and vapor recovery capabilities.
The Vinson & Elkins team was led by partner Matt Falcone and senior associate Charlie Fitzpatrick, with assistance from associates Chandler Spinks, John Frey, Rivers Stephens and Rylie Goldwait. Other key team members included partner Stephanie Coco and associate Jake Silver; partner Sarah Mitchell, senior associate Alexander Baker and associate Janae Wilson; partner John Lynch, senior associate Curt Wimberly and associate Sarah McIntosh; partners David Wicklund and East Berhane and associates Natalie Harrison and James Payne; partner Prentiss Cutshaw, counsel Ken Adler and associate Camryn McGinnis; partner Matthew Dobbins and associate Ryan Vanderlip; partner Suzanne Clevenger and associate Ryan Hoeffner; partner Darren Tucker, counsel Ryan Will and associate Alex Rant; partner Patricia Adams, senior associate Brian DeShannon and associate Henry Crowell; partner Sean Becker and associate Peter Goetschel; partner Zach Terwilliger, counsels Brian Howard and Elizabeth McIntyre and associates Pete Thomas and Alexander Sprenger.
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