Expands Relationship with Sabine Oil & Gas, a Wholly Owned Subsidiary of Osaka Gas USA, and Increases Gas Gathering and Processing Capabilities in the Carthage Area
Align Midstream Partners II, LLC ("Align"), a Dallas-based midstream company backed by Tailwater Capital ("Tailwater"), today announced the completion of the TOPS Pipeline and the formation of a joint venture agreement in the pipeline with Sabine Oil & Gas ("Sabine"), a fully owned subsidiary of Osaka Gas USA ("Osaka"). The TOPS pipeline is a 30-mile, 16-inch diameter gas gathering pipeline in the Carthage area with interconnections to key downstream takeaway markets. The transaction marks Osaka Gas USA's first acquisition in the midstream business in the United States.
"We are excited to partner with Sabine and grow our relationship in East Texas," said Fritz Brinkman, CEO of Align. "The TOPS Pipeline will bolster our existing East Texas footprint and enhance our ability to serve the growing Haynesville production, providing our customers with greater access to a number of attractive markets across the Carthage hub."
"Given the long term view of Sabine and its parent Osaka, the TOPS investment is another step in vertically integrating Sabine and advancing our strategy of capturing value from the well head to the burner tip for our East Texas assets," commented Doug Krenek, CEO of Sabine. "We are pleased to be expanding our relationship with Align as they are a very competent East Texas midstream company."
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