Howard Energy Partners (HEP) announced that it has closed on the purchase of EPIC Midstream Holdings’ ethylene pipeline. This 120-mile, 12-inch, and bidirectional pipeline provides critical ethylene transportation, connecting Gulf Coast Growth Venture’s petrochemical complex in Corpus Christi to storage facilities in Markham, Texas.
Along with increasing HEP’s overall footprint in the Gulf Coast region, the newly acquired ethylene pipeline offers unique synergies with HEP’s existing Javelina Plant, a treating and fractionation plant that extracts olefins, hydrogen, and natural gas liquids (NGLs) from the gas streams produced by local refineries.
This year marked a notable for HEP in M&A activity, with several material transactions totaling more than $1.1 billion. And HEP now owns and operates more than 1,500 miles of pipeline, nearly 1 billion cubic feet per day of cryogenic processing capacity, and nearly 2.5 billion barrels of tank storage capacity in the United States and Mexico.
Kirkland & Ellis LLP were legal advisors to EPIC Midstream Holdings. And Bracewell and Sidley Austin served as legal advisors to HEP.
KEY QUOTES:
“This acquisition aligns with our long-term strategy of building a diversified midstream company through organic growth and acquisitions anchored by long-term contracts. I want to thank our internal team for executing on this opportunity. We look forward to additional growth in 2025.”
– Mike Howard, Howard Energy Partners’ Chairman and Chief Executive Officer
