DALLAS, March 11, 2019 /PRNewswire/ -- Rimrock
Energy Partners, LLC ("REP") is pleased to announce a senior
secured credit facility of $200
million led by BOK Financial. The proceeds from this
facility will be used to support the buildout of REP's natural gas
gathering and processing system (the "Pierce System") which serves
producers in the northern DJ Basin.
"We are pleased to partner with a lender that can support our
system's expansion as we continue to add producers," said
Jeff Derner, REP's Chief Financial
Officer. "This facility, combined with our equity capital available
from Energy Spectrum Capital, provides ample liquidity to keep pace
with the growing gas volumes across the region."
"BOK Financial is excited to serve as lead arranger of the
Rimrock credit facility," said Scott
Miller, Vice President of BOK Financial. "Rimrock has an
experienced management team that is a proven leader in developing
multi-commodity midstream assets in the DJ Basin."
Baker Botts LLP served as legal counsel to Rimrock and Thompson
& Knight LLP served as legal counsel to BOKF.
About Rimrock Energy Partners, LLC
REP is a strategic, growth-oriented company focused on the
acquisition, development and management of midstream energy assets
across multiple commodities (crude oil, natural gas, natural gas
liquids). The Rimrock management team has more than 100 years
of experience in midstream operations and has completed projects
with a total enterprise value exceeding $1.5
billion. Rimrock is backed by an equity commitment from
Energy Spectrum Capital. www.rimrockenergy.com
About Energy Spectrum Capital
Energy Spectrum Capital is a midstream-focused private equity
firm that has raised over $4.4
billion in capital commitments focused on investing in
North America's energy
infrastructure. Since its inception in 1996, Energy Spectrum has
sponsored over 55 portfolio
companies. www.energyspectrum.com
About BOK Financial Corporation
BOK Financial Corporation is a $38
billion regional financial services company based in
Tulsa, Oklahoma. The company's
stock is publicly traded on NASDAQ under the Global Select market
listings (BOKF). BOK Financial's holdings include BOKF, NA, BOK
Financial Securities, Inc. and The Milestone Group, Inc. BOKF, NA
operates TransFund, Cavanal Hill Investment Management, BOK
Financial Asset Management, Inc. and seven banking divisions: Bank
of Albuquerque, Bank of Arizona,
Bank of Arkansas, Mobank, Bank of
Oklahoma, Bank of Texas and Colorado State Bank and Trust.
Through its subsidiaries, the company provides commercial and
consumer banking, investment and trust services, mortgage
origination and servicing, and an electronic funds transfer
network. For more information, visit www.bokf.com.
Contact:
Rimrock Energy Partners, LLC
RimrockEnergy.com
972-473-7684
info@rimrockenergy.com
Jeff Derner, CFA
Chief Financial Officer
Amber Prine
Manager of Office Administration
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SOURCE Rimrock Energy Partners, LLC