Bracewell Counsels Tallgrass Energy Partners in Acquisition of Additional Interest in Pony Express Pipeline
HOUSTON – Bracewell represented the Conflicts Committee of the Board of Directors of the general partner of Tallgrass Energy Partners, LP (TEP) in its acquisition of an additional 31.3 percent interest in Tallgrass Pony Express Pipeline, LLC (Pony Express) for cash consideration of $475 million and 6,518,000 common units of TEP issued to Tallgrass Development, LP. The transaction, which closed on Jan. 4, 2016, increased TEP’s ownership interest in Pony Express to 98 percent.
Pony Express currently owns an approximately 690-mile crude oil pipeline commencing in Guernsey, Wyoming, and terminating in Cushing, Oklahoma, and a 66-mile lateral in Northeast Colorado that interconnects with the Pony Express crude oil pipeline system.
Bracewell attorneys involved in the transaction include:
Partners: Troy L. Harder, Timothy A. Wilkins and D. Kirk Morgan, II
Associates: Lytch T. Gutmann