Vaquero Midstream LLC Announces Completion Of Credit Facility
November 11, 2020
DALLAS, Nov. 10, 2020 /PRNewswire/ — Vaquero Midstream announced today the closing of a $200 Million revolving credit facility on October 29, 2020. Vaquero extended the commitment of the original facility for two years, to December 2023. The facility is available for general corporate purposes, including funding capital expenditures, working capital and operating expenses. The bank group is now led by BOK Financial.
“BOK Financial is proud to have served as lead arranger for the Vaquero credit facility,” said Alex Trlica, Senior Vice President at BOK Financial. “Vaquero’s management team has demonstrated prudent management through this commodity price cycle, and BOK Financial stands by its energy clients in all economic climates. We look forward to our continued partnership with Vaquero.”
“We were pleased to bring together some of our existing bank participants along with adding several new participants and adding BOK Financial as our lead bank. Though it has been and continues to be a difficult banking environment, we were very appreciative of the support we received with an oversubscription of the amount requested for our facility,” said Bryant H. Patton, CFO of Vaquero. “We look forward to maintaining and enhancing relationships with all our business partners including Yorktown Energy Partners, producers, and lending institutions.”
Vaquero currently has installed two 200 mmscf/d cryogenic processing plants in the Delaware Basin, which are tied into approximately 165 miles of high-pressure pipeline, composed mostly of 30″ and 24″ pipeline. The high-pressure pipeline accesses some of the richest gas producing areas of the Southern Delaware Basin. The company has the capacity at its current location to install three more 200 mmscf/d cryogenic units, which would bring total processing capacity to 1bcf/d.
About Vaquero Midstream LLC
Vaquero Midstream offers oil and gas producers a full suite of midstream solutions including gathering, treating, processing, compression, liquids handling, and transmission. The company’s leadership team has significant experience in all facets of the midstream industry including successful construction, operations and management of fully integrated midstream natural gas gathering and processing systems across a wide range of domestic shale basins.
About BOK Financial Corporation
BOK Financial Corporation is a $46 billion regional financial services company headquartered in Tulsa, Oklahoma with $82 billion in assets under management and administration. The company’s stock is publicly traded on NASDAQ under the Global Select market listings (BOKF). BOK Financial Corporation’s holdings include BOKF, NA; BOK Financial Securities, Inc., BOK Financial Private Wealth, Inc. and BOK Financial Insurance, Inc.BOKF, NA operates TransFund, Cavanal Hill Investment Management and BOK Financial Asset Management, Inc.BOKF, NA operates banking divisions across eight states as: Bank of Albuquerque; Bank of Oklahoma; Bank of Texas; and BOK Financial in Arizona, Arkansas, Colorado, Kansas and Missouri; as well as having limited purpose offices in Nebraska, Milwaukee and Connecticut. Through its subsidiaries, BOK Financial Corporation provides commercial and consumer banking, brokerage trading, investment, trust and insurance services, mortgage origination and servicing, and an electronic funds transfer network.