ENLINK MIDSTREAM, LLC (NYSE:ENLC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On January31, 2019, EnLink Midstream, LLC (“ENLC”) and EnLink Midstream Partners, LP, a subsidiary of ENLC (“ENLK”), entered into a Contribution Agreement (the “Drop-Down Agreement”) to which ENLC contributed, assigned, and transferred its 16.129% limited partner interest (the “Contributed Interests”) in EnLink Oklahoma Gas Processing, LP (“EOGP”) to EnLink Midstream Operating, LP, a wholly-owned subsidiary of ENLK (“EnLink Midstream Operating”). As consideration for the Contributed Interests, ENLK issued 55,827,221 common units representing limited partner interests in ENLK (collectively, the “Consideration Units”) to ENLC. The transactions contemplated by the Drop-Down Agreement (the “Drop-Down Closing”) were effective as of 11:59 p.m., Dallas, Texas time, on January31, 2019. After giving effect to the Drop-Down Closing, EnLink Midstream Operating owns 50% of the limited partner interests in EOGP.
ENLK issued the Consideration Units to ENLC in a private placement to exemptions from registration in Section4(a)(2)of the Securities Act of 1933, as amended.
The foregoing description of the Drop-Down Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Drop-Down Agreement, a copy of which is filed as Exhibit10.1 to this Current Report on Form8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
EnLink Midstream, LLC Exhibit
EX-10.1 2 a19-3891_1ex10d1.htm EX-10.1 Exhibit 10.1 Execution Version CONTRIBUTION AGREEMENT This CONTRIBUTION AGREEMENT (this Agreement),…
To view the full exhibit click here
About ENLINK MIDSTREAM, LLC (NYSE:ENLC)
EnLink Midstream, LLC is a midstream energy services company. The Company’s assets include its equity interests in EnLink Midstream Partners, LP (the Partnership) and EnLink TOM Holdings, LP (TOM Holdings). The Partnership is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs), condensate and crude oil, as well as providing crude oil, condensate and brine services to producers. TOM Holdings and its subsidiaries are controlled by the Partnership and have similar operations to the Partnership. The Partnership has five reportable segments: Texas, Oklahoma, Louisiana, Crude and Condensate, and Corporate. The Partnership’s assets consist of gathering systems, transmission pipelines, processing facilities, fractionation facilities, stabilization facilities, storage facilities and ancillary assets.