Sidley represented Durango Permian LLC, a portfolio company majority owned by funds managed by Morgan Stanley Energy Partners, in a senior secured credit facility valued at US$325 million. Durango Permian LLC is a subsidiary of Durango Midstream, a leading natural gas gathering, processing, and marketing company providing world-class midstream services to oil and gas producers in Kansas and New Mexico. The proceeds will be used to support Durango Permian’s ongoing construction of its Kings Landing Gas Gathering and Processing Development Project, a large-scale expansion of Durango Permian’s existing natural gas gathering and processing supersystem in the Permian Basin of southeast New Mexico.
The Sidley team was led by partner Daniel Allison, with assistance from associates Shawn Bagdasarian, Aashiq Jivani, and Di Duan. Additional team members included Houston partners Angela Richards and Heather Palmer; New York partner Azad Assadipour; New York associate Alice Sarvi; and Houston associates Aaron Mitchell and Greta Carlson.
