Amarillo Rattler joint venture Sold to EnLink Midstream

Rattler and Amarillo Midstream sold their 50/50 Amarillo Rattler joint venture to EnLink Midstream for total gross potential consideration of $75 million, consisting of $50 million at closing, $10 million upon the first anniversary of closing and up to $15 million in contingent earn-out payments

Amarillo Midstream and Rattler Midstream LP have formed Amarillo Rattler, a 50/50 joint venture that will own, operate and expand a natural gas gathering and processing system in the Permian Basin’s Midland sub-basin in West Texas

The Yellow Rose gas system is estimated to have a processing capacity of 40,000 million cubic feet per day (Mcf/d). The 40-MMcfd Yellow Rose gas gathering and cryogenic processing system including over 84 miles of gathering and regional transportation pipelines in Dawson, Martin, and Andrews Counties, Texas.

The deal includes 60,000Mcf/d natural gas cryogenic processing plant in Martin County, Texas.