Align Midstream Partners II, LLC, a Dallas-based midstream company backed by Tailwater Capital, has announced the completion of the TOPS Pipeline and the formation of a joint venture agreement to develop the pipeline with Sabine Oil & Gas, a fully owned subsidiary of Osaka Gas USA (“Osaka”). The TOPS pipeline is a 30-mile, 16-inch diameter gas gathering pipeline in the Carthage area with interconnections to key downstream takeaway markets. The transaction marks Osaka Gas USA’s first acquisition in the midstream business in the United States.
Latham & Watkins LLP represents Sabine Oil & Gas in the transaction with a Houston-based team led by partners Justin Stolte and Lauren Anderson, with associates Greg Sorensen and Ashley Nguyen. Advice was also provided on tax matters by Houston partner Jim Cole, with associate Jared Grimley.
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