Akin Gump Advises BP Midstream Partners in $468 Million Acquisition of Dropdown Assets
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(Houston) – BP Midstream Partners LP today announced that it has acquired equity interests in Mardi Gras Transportation System Company LLC, URSA Oil Pipeline Company LLC and KM-Phoenix Holdings LLC from indirect wholly owned subsidiaries of BP p.l.c. for $468 million in cash. Akin Gump advised the conflicts committee of the board of directors of the general partner of BP Midstream Partners in the acquisition, which was funded using the partnership’s existing revolving debt facility.
The Akin Gump team included oil and gas partners John Goodgame and Lisa Hearn and associate Leana Garipova; tax partner Jocelyn Tau; environment and natural resources partner David Quigley, senior counsel Andrew Oelz and associate Carmela Renna; antitrust partner Gorav Jindal and associate Matthew Schmitten; and energy regulation, markets and enforcement senior counsel Vera Neinast.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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