HOUSTON – Bracewell LLP is representing Apache Corporation in a strategic partnership with EPIC Midstream Holdings, LP and Noble Energy Inc. to develop the EPIC Crude Oil Pipeline.
Apache and Noble Energy will anchor the pipeline, which will have an initial total capacity of 590,000 barrels of oil per day, including 440 MBbl/d from the Permian Basin and 150 MBbl/d from the Eagle Ford Shale. Apache and Noble Energy have secured 75 MBbl/d and 100 MBbl/d of firm capacity, respectively.
As part of the partnership, Apache will have an option to acquire up to 15 percent of the equity in the EPIC Crude Oil Pipeline.
The crude system is expected to be in service in the second half of 2019.
Bracewell’s representation of Apache in this transaction includes both Apache’s equity option and transportation capacity arrangements. Bracewell lawyers involved in this matter includes:
Partners: G. Alan Rafte, Charles H. Still, Jr., Hans P. Dyke, D. Kirk Morgan II, Mark K. Lewis, Elizabeth L. McGinley, Aaron P. Roffwarg and Daniel E. Hemli
Senior Counsel: Steven J. Lorch
Associates: Derek Speck, Sidney Nunez, Kate Barrington McGregor, Caitlin Tweed, Jay N. Larry and Logan S. Kotler