News

KATY, Texas – February 22, 2022 -- Azure Midstream Energy ("Azure Midstream"), a natural gas midstream company operating in North Louisiana and East Texas, announced today that it has closed on its sale to Clearfork Midstream. Terms of the sale were not disclosed.

Clearfork Midstream partnered with EnCap Flatrock Midstream ("EFM") for the transaction. Investment banking firm Jeffries served as sole financial advisor and Porter Hedges LLC served as corporate counsel to Azure Midstream.

"We are delighted to complete this transaction and looking forward to building upon the work Chip and his team have accomplished," said Kipper Overstreet, Clearfork CEO.

"I have known Mr. Overstreet for over a decade, and I can think of no finer example of the strong leadership needed to develop these assets to the next level," Azure CEO Mr. Berthelot said. "I have the utmost confidence in Clearfork and EFM and their ability to maximize value while maintaining the safety-first culture we developed at Azure."

Azure Midstream
Azure Midstream's natural gas gathering and treating platform spans the core areas of the Haynesville Shale formation and includes more than 500 miles of pipeline and 1.2 billion cubic feet per day of treating capacity across systems in North Louisiana and East Texas. Azure Midstream has nine downstream interconnects offering access to major market hubs, including Henry Hub, Houston Ship Channel/Katy, Carthage, Columbia Gulf Mainline, Perryville and Agua Dulce (via TETCO and NGPL). The Haynesville natural gas play is well positioned with proximity to large end-use markets and the growing U.S. Gulf Coast LNG export complex.

Clearfork Midstream
Based in Fort Worth, Clearfork is a growth-oriented midstream company that was formed in 2020 to provide comprehensive midstream solutions for oil and gas producers in basins across North America, with a specific emphasis on unconventional natural gas production in the Haynesville/Bossier Shale formation in North Louisiana and East Texas