HOUSTON--(BUSINESS WIRE)--Enstor Gas, LLC (“Enstor”) today announced the completion of the sale of its Waha Gas Storage assets to WhiteWater Midstream, LLC (“WhiteWater”). The assets are located in Northwest Texas, near the Waha Hub. Waha Gas Storage assets have the capacity, when fully developed, to store approximately 10 billion cubic feet of natural gas and include six underground storage caverns and permits for five additional caverns.
“I am extremely proud of our team for rapidly advancing this transaction to close, particularly during the COVID pandemic,” said Enstor Chief Executive Officer Paul Bieniawski. “WhiteWater Midstream’s acquisition of the Waha Gas Storage assets is a win-win for everyone at the table. The facility is a great fit with the WhiteWater asset portfolio and provides a positive return for our investor.”
Enstor was represented by Willkie Farr and Gallagher LLP. Sidley Austin LLP provided legal counsel to WhiteWater.
About Enstor Gas, LLC
Enstor is one of the largest and most geographically diverse, independent natural gas storage operators in the U.S. The company’s eight storage facilities are strategically located across five states and Alberta, Canada. Enstor’s diversified asset base provides direct connectivity to major pipelines and key supply and demand markets. Enstor is backed by ArcLight Capital Partners, LLC, a leading private equity firm focused on North American energy infrastructure investments. For more information, please visit www.enstorinc.com.
About WhiteWater Midstream, LLC
WhiteWater Midstream is a management-owned, Austin-based midstream company. WhiteWater Midstream is partnered with multiple private equity funds including but not limited to Ridgemont Equity Partners, Denham Capital Management, First Infrastructure Capital and the Ontario Power Generation Inc. Pension Plan. Since inception, WhiteWater has reached final investment decision on ~$3 billion in greenfield development projects. For more information about WhiteWater Midstream, visit www.whitewatermidstream.com.