Riverstone, Goldman JV Pays $1.6B For NM Gas Assets

Law360, New York (January 8, 2018, 4:48 PM EST) -- A joint venture involving funds managed by Riverstone Holdings LLC and Goldman Sachs Merchant Banking Division will pay $1.6 billion to take over natural gas assets in New Mexico from Lucid Energy Group and private equity backer EnCap Flatrock Midstream, the energy company said Monday.

Dallas-based Lucid will sell off Lucid Energy Group II LLC, allowing the joint venture to take control of natural gas pipelines and several processing facilities in the Delaware Basin. The joint venture is a partnership between Riverstone-managed Riverstone Global Energy and Power Fund VI and Goldman MDB-managed funds West Street Capital Partners VII LP, West Street...

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