Vaquero Midstream
Description
Closed a revolving credit facility, expandable to $150 million, led by LegacyTexas Bank and ABN-AMRO. The 4-year revolver can support general corporate purposes, including overhead and construction of new facilities around Vaquero's assets in the Southern Delaware Basin. A portion of the facility will pay the initial costs associated with Vaquero's second cryogenic unit. In addition, Vaquero received $40 million in unfunded equity from its equity sponsors.