EagleClaw-Altus merger creates $9 billion company

EagleClaw Midstream and Altus Midstream are combining into a new entity that will be the largest integrated midstream company in the Delaware Basin.

Coming early next year is a new midstream entity comprised of the assets of Altus Midstream and EagleClaw Midstream.

Apache Corp. owns 79 percent of Altus through its Apache Midstream subsidiary while BCP Raptor Holdco LP owns EagleClaw and the Caprock Midstream and Pinnacle Midstream businesses.

When combined, the new entity – which will sport a new name but retain EagleClaw’s Midland headquarters – will be the largest integrated midstream company in the Delaware Basin with an estimated enterprise value of $9 billion.

Approximately 60 Apache field personnel working at Altus facilities will be offered jobs with the new company, joining the 200 who already work at EagleClaw.

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Source: MRT