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Bracewell Represents Investors in $235 Million Preferred Equity Investment in Crestwood Niobrara LLC

HOUSTON – Bracewell LLP represented affiliates of existing preferred equity investors in CN Jackalope Holdings, LLC (Holdings), led by Global Infrastructure Partners, in connection with the preferred equity investment by Holdings in Crestwood Niobrara LLC (Niobrara) for $235 million in cash consideration. The preferred investment was used in part to finance the acquisition by Niobrara of the remaining 50 percent interest in Jackalope Gas Gathering Services, L.L.C. that it did not already own from Williams MLP Operating LLC. As a result of the consummation of the transactions, Niobrara owns 100 percent of the interests in Jackalope, and Crestwood Midstream Operating LLC, a Delaware limited liability company and affiliate of Niobrara, will now provide field operations and construction management services for Jackalope.

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Bracewell lawyers involved in this transaction included:

Partners: Thomas M. Tomlinson, Elizabeth L. McGinley and Lytch T. Gutmann

Associate: Charlotte Keenan