Basalt to Acquire Natural Gas Transmission Business from Third Coast Midstream
17.10.2019 19:04:00 EEST | Business Wire | Press release
A fund managed by Basalt Infrastructure Partners II GP Limited (“Basalt”) today announced that it has entered into a definitive agreement to acquire Third Coast Midstream LLC’s natural gas transmission business (the “Natural Gas Transmission Business”).
“This investment represents a rare opportunity to invest in a portfolio of demand-driven, regulated 'last-mile' natural gas pipelines serving utilities and other key end-user customers in the Southeastern United States. The business is strategically positioned to capture continued industrial growth in the region,” said David Greenblatt, Partner of Basalt Infrastructure Partners LLC, exclusive investment Advisor to the Basalt funds. “Cash flows from the business are anchored by long-term firm transportation contracts with a diverse customer base of utility, power and industrial customers.”
"We are proud of the accomplishments our team has executed over the last several years in building out this portfolio of high-quality gas transmission assets in the Southeast United States," stated Matt Rowland, Third Coast's President and Chief Executive Officer. "We are confident that Basalt brings the right combination of financial strength and strategic experience to continue safe, efficient and growing operations. The sale is a further step in Third Coast's strategic repositioning to focus on its core Gulf of Mexico infrastructure platform."
The Natural Gas Transmission Business includes 7 regulated natural gas lateral pipelines with total capacity of over 1,600 MDth per day, stretching approximately 550 miles. The lateral pipelines are connected to 8 major long-haul pipelines, ensuring reliable gas supply to customers across Louisiana, Alabama, Mississippi, Tennessee and Arkansas.
Consummation of the transaction remains subject to customary closing conditions, including expiration or termination of applicable regulatory waiting periods. The terms of the transaction are not being disclosed.
Barclays served as exclusive financial adviser to Basalt and Vinson & Elkins served as its legal adviser. RBC Capital Markets served as exclusive financial adviser to Third Coast and Orrick served as its legal adviser.
About Basalt
Basalt manages an infrastructure equity investment fund focusing on investments in utilities, power, transport, and communications infrastructure in the United States, Canada and Europe. This acquisition will represent Basalt’s ninth investment in the second flagship Basalt fund. Other investments by the second flagship Basalt fund include DB Energy Assets, Helios Power and Detroit Thermal in the United States, and North Star, Mareccio Energia, Caronte and Tourist, Manx Telecom, and Connect Fibre in Europe.
For more information, please visit www.basaltinfra.com.
About Third Coast
Headquartered in Houston, Texas, Third Coast Midstream, LLC is a full-service midstream company with assets that provide critical midstream infrastructure linking producers of natural gas, crude oil, NGLs, and condensate to end-use markets. Third Coast’s assets are strategically located in some of the most prolific offshore basins in the Deepwater Gulf of Mexico and onshore basins in the Eagle Ford and East Texas. Third Coast currently owns or has an ownership interest in approximately 5,100 miles of interstate and intrastate pipelines, as well as ownership in gas processing plants, fractionation facilities, an offshore semi-submersible floating production system with nameplate processing capacity of 90 MBbl/d of crude oil and 220 MMcf/d of natural gas, and a terminal site with approximately 3.0 MMBbls of storage capacity.
For more information, please visit www.3CMidstream.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191017005688/en/
Contact information
For media inquiries:
Basalt Infrastructure Partners LLC
David Greenblatt
Partner
(646) 661-3900
david.greenblatt@basaltinfra.com
New York, NY
Third Coast Midstream, LLC
Nadine Moustafa
General Counsel
(346) 241-3412
nmoustafa@3CMidstream.com
Houston, TX
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Carnegie Mellon University and Cleveland Clinic Develop AI System to Interpret Cardiac MRI Scans with Enhanced Accuracy21.5.2026 15:05:00 EEST | Press release
A team of researchers from Carnegie Mellon University, in collaboration with Cleveland Clinic’s Cardiovascular Innovation Research Center, has developed an artificial intelligence (AI) system capable of interpreting some of the most complex heart scans in medicine, cardiac magnetic resonance imaging (MRI), without the need for manually labeled training data. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521762286/en/ A team of researchers from Carnegie Mellon University, in collaboration with Cleveland Clinic’s Cardiovascular Innovation Research Center, has developed an artificial intelligence (AI) system capable of interpreting some of the most complex heart scans in medicine, cardiac magnetic resonance imaging (MRI), without the need for manually labeled training data. The novel system, called CMR-CLIP, is designed to interpret cardiac MRI scans by connecting moving images of the heart with corresponding clinical radio
The Live Moment Effect: Genius Sports and MediaScience Study Finds Specific Moments in Live Sports Can Double Unaided Brand Recall21.5.2026 15:00:00 EEST | Press release
Genius Sports Limited (NYSE: GENI), a global leader in real-time sports data, today released new biometric research conducted with MediaScience showing that ads delivered immediately after emotionally heightened moments in live sports can double unaided brand recall. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521475265/en/ The Live Moment Effect report from Genius Sports and MediaScience. The study, The Live Moment Effect, finds that advertising effectiveness is significantly influenced by a viewer’s emotional state immediately before an ad is shown. In controlled biometric testing, ads shown after high-intensity sporting moments, such as near-scoring plays or crucial momentum shifts, delivered approximately double the unaided brand recall of baseline conditions. The Moment Before the Ad Matters The research challenges long-held assumptions about media value, showing that not all impressions are equal. Live sports rem
Merck Announces First Patient Dosed in Phase 3 Study for Investigational Antibody-Drug Conjugate in Colorectal Cancer21.5.2026 15:00:00 EEST | Press release
Merck, a leading science and technology company, today announced that the first patient has been dosed in the Phase 3 PROCEADE®-CRC-03 trial (NCT07549412). The study is evaluating precemtabart tocentecan (Precem‑TcT), a potential first‑in‑class investigational anti‑CEACAM5 antibody‑drug conjugate (ADC), for the treatment of metastatic colorectal cancer (mCRC). “Leveraging our novel payload‑linker technology, Precem‑TcT is the first CEACAM5‑targeted ADC in clinical studies with an exatecan payload, rationally designed for stability and enhanced cancer cell killing activity,” said David Weinreich, MD, MBA, Global Head of R&D and Chief Medical Officer for the Healthcare business of Merck. “The Phase 3 study and the enrollment of the first patient with Precem-TcT build on the Company’s more than 20 years of expertise in colorectal cancer, and highlight our commitment to advancing differentiated ADCs for heavily pretreated patients with limited treatment options.” The PROCEADE®-CRC-03 study
Baszucki Group Funds Oxford University Clinical Trial of Ketogenic Therapy for Early Psychosis21.5.2026 14:00:00 EEST | Press release
Baszucki Group today announced a £1.17 million grant to support a randomized controlled trial at the University of Oxford assessing the feasibility, safety, and efficacy of a ketogenic diet for patients at clinical high risk of psychosis (CHR-P). Researchers will test this nutritional therapy's ability to improve patients' mental and physical health. This project builds on a growing body of research suggesting the potential of metabolic therapies in treating serious mental illness. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521877110/en/ Baszucki Group Funds £1.17 Million for University of Oxford Trial of Ketogenic Therapy for Early Psychosis Psychotic disorders carry a massive personal burden and are associated with a lower life expectancy. Psychosis does not develop immediately, but typically emerges following a period of early, subtle symptoms. Individuals in this stage, classified as CHR-P, represent a critical pr
SINOVAC Announces Extension of Deadline to Submit Payment Instructions for Previously Declared Special Cash Dividend21.5.2026 13:30:00 EEST | Press release
Sinovac Biotech Ltd. (NASDAQ: SVA) (“SINOVAC” or the “Company”), a leading provider of biopharmaceutical products in China, today announced that it has extended the deadline for shareholders and nominee brokers to submit payment instructions relating to the Company’s previously declared special cash dividend. The Company previously announced a special cash dividend of US$55.00 per common share, payable to valid holders of the Company’s common shares as of the close of business on May 23, 2025 ET. The Company previously informed shareholders that completed instruction materials were to be submitted prior to December 31, 2025 in order to facilitate receipt of the dividend. The Company has now extended that submission deadline to June 30, 2026. Shareholders and nominee brokers that have not yet submitted their instruction materials are reminded to do so on or before June 30, 2026 in order to facilitate payment of the dividend. If you have any questions regarding the process you need to un
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom