PDC Energy Divests Midstream Assets to EagleClaw Midstream for $182M
Vinson & Elkins advised EagleClaw Midstream in a transaction whereby PDC Energy, Inc. will divest its gas-related midstream assets, including long-term future gathering and processing rights, to EagleClaw for total proceeds of approximately $182 million.
The transaction is composed of an initial $100 million payment at closing and an unconditional payment due one year after closing of approximately $82 million.
The V&E corporate team was led by partners Danielle Patterson and Bryan Loocke with assistance from senior associate Robert Hughes and associates Kathryn Hastings and Kara Chung. Also advising were partner John Lynch and associate Neil Clausen; senior associate Matt Dobbins and associates Jennifer Cornejo and Austin Pierce; partner Shane Tucker and counsel Dario Mendoza; and partner Thomas Wilson and counsel Grace Ho.
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