Fort Worth-based Brazos Midstream said last week its subsidiary Brazos Midland completed expansion of its senior credit facility to $1.1 billion from $225 million in commitments from a syndicate of banks. The funds will support the ongoing expansion of Brazos’ natural gas gathering and processing system in the Midland Basin.
William Butler, CFO, said Feb. 11, “Brazos has secured long-term dedications for gas gathering and processing services covering 375,000 acres with leading producers in the Midland Basin… Brazos has fully secured the capital sources needed to complete the aggressive buildout of our Midland business as we continue to generate material growth in operating cash flow.”
Brazos Midstream entities collectively represent “the largest privately held midstream platform in the Permian Basin.”