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Classified in: Oil industry, Business
Subject: TNM

ArcLight Capital Acquires Interest in Deepwater Perdido Platform from BP

BOSTON, Jan. 3, 2018 /PRNewswire/ -- ArcLight Capital Partners announced today that one of its affiliates has acquired a 26.5% non-operated interest in the Perdido Regional Host from BP Exploration & Production Inc. The Perdido Regional Host is the only deepwater production facility serving the Gulf of Mexico's Perdido Foldbelt Trend, one of the most prolific and strategic plays in the Gulf of Mexico.   

The facility, which is operated by Shell Offshore Inc., is an offshore spar moored in southern Alaminos Canyon in approximately 8,000 feet of water, located approximately six miles from the US/Mexican maritime border and 220 miles south of Galveston, Texas. 

"We are very pleased to complete another transaction with BP, our third in the last six months," said Dan Revers, Managing Partner and Founder of ArcLight.  "This investment in Perdido is a continuation of our strategy of identifying and executing quality investment opportunities in the deepwater Gulf of Mexico.  Perdido represents a world class infrastructure asset supported by strong, predictable cash flows from supermajor counterparties producing from established fields."

About ArcLight

ArcLight is one of the leading private equity firms focused on energy infrastructure investments. Founded in 2001, the firm helped pioneer an asset-based private equity approach to investing in the dynamic energy sector. ArcLight has invested over $19 billion in over 100 transactions since inception. Based in Boston, the firm's investment team employs a hands-on value creation strategy that utilizes its in-house technical, operational, and commercial specialists as well as the firm's 850-person asset management affiliate. More information about ArcLight, and a complete list of ArcLight's portfolio companies, can be found at www.arclightcapital.com.

SOURCE ArcLight Capital Partners

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