Howard Energy Partners to Acquire Iron Horse Midstream
Iron Horse acquisition brings HEP’s total investment in Midcontinent-focused acquisitions in the past two years to
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Howard Energy Partners (HEP) today announced that it has executed a definitive agreement to acquire Iron Horse Midstream (Iron Horse), a portfolio company of Sixth Street, expanding its position in the prolific Anadarko Basin. The acquisition is supported by multidecade customer contracts covering approximately 167,000 dedicated acres and builds on HEP’s strong foundation for long-term growth and value creation. With this transaction, HEP’s investment in Midcontinent acquisitions over the past two years will total approximately $2.5 billion, advancing its strategy to build a leading, customer-focused energy infrastructure platform across the region.
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The Iron Horse acquisition includes approximately 400 miles of high- and low-pressure natural gas pipelines in Canadian, Caddo and Grady counties in Oklahoma, multiple compressor stations, and the 120-acre Iron Horse processing complex with a capacity of 425 million cubic feet per day (MMcf/d) of natural gas. The assets provide substantial synergies with HEP’s existing infrastructure platform, solidifying the company’s commitment to connecting natural gas production from the Midcontinent region to expanding Gulf Coast demand markets, including LNG export facilities, industrial users, power generation, and emerging data center projects. See attached map.
“First, I want to thank Sixth Street and the Iron Horse team for their confidence in us and for the integrity they demonstrated throughout this transaction,” said Herbie Goldstein, Howard Energy Partners Chief Financial Officer and head of corporate development. “We see tremendous long-term opportunity in the Anadarko Basin. The acquisition of Iron Horse builds on our disciplined growth strategy, expanding our footprint in a highly productive area with multiple producing formations, while enhancing the integrated services we offer customers. We are excited about this next step in our company’s growth and the opportunity to further develop the infrastructure needed to connect this prolific basin with growing natural gas markets across Oklahoma, Texas and the Gulf Coast.”
“We want to thank Howard Energy Partners for their seamless and transparent approach to the acquisition of Iron Horse, they have been a pleasure to work with and we are excited to work together again in the future,” said Zack Winegrad, Partner, Co-Head of Energy and Co-Head of Global Infrastructure at Sixth Street.
In June, HEP announced two transactions that strengthened the company’s footprint across the Midcontinent region: the buyout of the remaining ownership interest in the Midship Pipeline, and the acquisition of Superior Midstream, a Tulsa-based natural gas gathering and processing company with operations across Oklahoma, Kansas, the Texas Panhandle, and East Texas. Together with the Iron Horse acquisition, HEP’s footprint in Oklahoma will include nearly 2,000 miles of pipelines with approximately 2 billion cubic feet per day of capacity, 580 MMcf/d of natural gas processing capacity, and 540,000 compression horsepower.
The transaction is expected to close by year-end 2026, subject to customary closing conditions and receipt of applicable regulatory approvals. Moelis & Company LLC is serving as exclusive financial advisor to HEP, and Bracewell LLP is serving as its legal counsel. RBC Capital Markets and Jefferies LLC acted as financial advisors to Iron Horse and Sixth Street and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to Iron Horse and Sixth Street.
About Howard Energy Partners
Headquartered in San Antonio, Texas, Howard Energy Partners is one of the nation’s largest private energy infrastructure companies, owning and operating a unique portfolio of assets in Texas, New Mexico, Pennsylvania, Oklahoma, Kansas, and Mexico. Our diversified midstream platform spans the natural gas and liquids value chain and is strategically positioned to meet the world’s increasing demand for energy. For more information about Howard Energy Partners, our purpose-driven mission, and our focus on long-term value creation, please visit our website at howardenergypartners.com.
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