Situation
Our client, CorEnergy, wanted to take a major step in the build-out of its portfolio of REIT-qualified energy infrastructure assets by acquiring the assets of the Grand Isle Gathering System (GIGS), a 153-mile subsea, midstream pipeline system in the Gulf of Mexico.
Result
The complex $245 million transaction was accomplished by a team of Husch Blackwell attorneys who represented CorEnergy in negotiating, documenting and financing the GIGS purchase. The deal also entailed negotiating and closing a long-term, triple-net lease agreement with the seller to operate the pipeline.