News & Achievements

Trace Midstream Enters the Northern Delaware Basin with the Acquisition of LM Energy’s Natural Gas Gathering and Transportation Infrastructure

Deals & Cases

August 6, 2024 • 1-minute read

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.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 14 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.

For more information, please speak with our media contacts.

Discover our latest:

Insights

CLE Events

Sixth Annual Navigating the Annual Meeting and Reporting Season

Join leading practitioners and industry voices for a timely discussion of the legal, regulatory, and governance developments shaping the next proxy season.

November 11, 2026

November 11, 2026 • 1-minute read

View Event