Akin Gump Advises Rattler Midstream in 50/50 Midstream Joint Venture with ArcLight

(Dallas) –Rattler Midstream, a subsidiary of Diamondback Energy, and ArcLight Capital Partners announced today that an affiliate of Rattler and Amarillo Midstream, an ArcLight Fund V portfolio company, have entered into a 50/50 joint venture to own, operate and expand a natural gas gathering and processing system in the Midland Basin. A team from Akin Gump advised Rattler in the joint venture.

The new entity, Amarillo Rattler, is owned 50% by Amarillo Midstream and 50% by an affiliate of Rattler. The joint venture currently owns and operates the Yellow Rose gas gathering and processing system with estimated total processing capacity of 40,000 Mcf/d and over 84 miles of gathering and regional transportation pipelines in Dawson, Martin, and Andrews Counties, Texas. This joint venture also intends to construct and operate a new 60,000 Mcf/d natural gas cryogenic processing plant in Martin County, TX, as well as incremental gas gathering and regional transportation pipelines.

The Akin Gump team advising Rattler included corporate partners Seth Molay, Gabriel Procaccini, Lisa Hearn and Matt Kapinos. Senior counsel Vera Neinast advised on regulatory matters, senior counsel Richard Frank on real estate and partner Jocelyn Tau on tax.

Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 1,000 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East. Founded in 1945, the firm is proudly celebrating its 75th anniversary in 2020. #AkinGump75

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