Brazos Midland, LLC acquired mustang springs gas gathering assets of Diamondback Energy, Inc. (NasdaqGS:FANG) for approximately $54 million on November 1, 2021. The total purchase price was approximately $54 million, after certain post-closing adjustments. In a related transaction, Brazos also acquired the Pecos Gas Gathering System from Diamondback Energy, Inc. and its midstream affiliate Rattler Midstream. Truist Securities, Inc. acted as financial advisor to Diamondback. Kevin Crews, Courtney Jamison Roane, Danny Nappier, Carla Hine, Marcia Hook, Jonathan Kidwell, James Dolphin, Richard Kidd, Patrick Ryan, David Wheat and Joe Tobias of Kirkland & Ellis counseled Brazos Midstream, the parent company of Brazos Midland, LLC. Stephen Boone, John Goodgame, Gabe Procaccini, Alison Chen and Alan Laves of Akin Gump Strauss Hauer & Feld LLP acted as a legal advisor to Diamondback Energy on the deal. Akin Gump corporate partners Stephen Boone and John Goodgame, global corporate practice co-head, led the cross-practice deal team. They were joined by corporate partner Gabe Procaccini and associates Leana Garipova and Katherine Raymond, along with tax partner Alison Chen and associate Sangita Sahasranaman. Corporate partner Alan Laves and associates Morgan Francy and Laura Lindsay Tatum handled the debt finance aspects.

Brazos Midland, LLC completed the acquisition of mustang springs gas gathering assets of Diamondback Energy, Inc. (NasdaqGS:FANG) on November 1, 2021.