King & Spalding represented ArcLight Capital Partners, LLC (“ArcLight”) and Cutlass Energy Partners, LLC, through their affiliate, Saber Midstream, LLC (“Saber”) on the announced acquisition of a natural gas gathering system in the Haynesville basin of Louisiana and Texas. The transaction closed on March 31, 2022. In connection with the transaction, Saber entered into a long-term gathering agreement that includes an acreage dedication and minimum volume commitment from an upstream affiliate of the seller.
In addition, on April 6, 2022, Saber closed on a private placement of senior secured notes to finance the acquisition.
The strategic acquisition will provide ArcLight the opportunity to acquire modern infrastructure to assist in the development of clean natural gas to help in the nation's energy transition.
The press release for the acquisition is available here.