Brazos Midstream has expanded the senior credit facility of its subsidiary, Brazos Midland, LLC, increasing commitments from $225 million to $1.1 billion through a syndicate of banks. The additional capital will fund the continued buildout of Brazos’ natural gas gathering and processing infrastructure across the Midland Basin, one of the most active oil and gas producing regions in the United States.
William Butler, Chief Financial Officer of Brazos, said the company has secured long-term gas gathering and processing agreements covering more than 375,000 acres with major energy producers in the Midland Basin over the past three years. He noted that the expanded credit facility, together with ongoing backing from equity partners, ensures sufficient capital to complete the company’s infrastructure expansion plans while supporting continued growth in operating cash flow.
BOK Financial acted as Lead Arranger and Administrative Agent for the transaction. Bank OZK, Citizens Bank, Fifth Third Bank, JPMorgan Chase Bank, KeyBanc Capital Markets and The Huntington National Bank served as Joint Lead Arrangers. Legal counsel for Brazos was provided by Harris Finley & Bogle, while Baker Botts represented the lender group.
Headquartered in Fort Worth, Texas, Brazos Midstream operates one of the largest privately held midstream platforms in the Permian Basin. Its infrastructure includes approximately 1,200 miles of natural gas, natural gas liquids and crude oil gathering pipelines across the Midland and Delaware Basins. The company currently has around 1.0 billion cubic feet per day of Permian-based processing capacity, with projects underway to increase capacity to roughly 1.3 billion cubic feet per day by the end of 2026. Brazos also maintains 75,000 barrels of crude oil storage capacity.
