“We are very excited to add the Midcoast platform to our portfolio of midstream investments,” said Dan Revers, Founder and Managing Partner of ArcLight. “We believe Midcoast represents a rare opportunity to acquire a large scale, diversified midstream business with exciting commercial and growth capital investment opportunities. We are likewise excited to partner with a management team that has demonstrated their ability to deliver successful results and prioritize safe and reliable operations in the midstream segment.”
“Midcoast owns a premier set of midstream assets that provide excellent Gulf Coast connectivity for natural gas and NGLs, bridging wide basis differentials that have arisen between producing basins and coastal demand centers. We look forward to leading Midcoast as it pursues these and other exciting opportunities,” added Rob Bond, CEO of Midcoast under ArcLight’s ownership.
“Above all, Midcoast enjoys a deep bench of talented executives and employees, and we are all excited to work with this team to take Midcoast forward in its next chapter as an independent, growth-oriented company.”