Lucid Energy Group Says It’s Selling Permian Systems for $1.6 Billion

January 9, 2018

 

Dallas midstream company Lucid Energy Group says it’s selling its Lucid Energy Group II subsidiary to the private equity firm Riverstone and to the merchant banking division of Goldman Sachs for $1.6 billion.

Riverstone maintains offices in Houston, London, New York and Mexico City.

Lucid II operates some Permian Basin midstream assets, including two major natural gas gathering and processing systems, along with natural gas pipelines with a capacity of 585 million cubic feet per day, according to the parent company.

The company expects the deal to be concluded by the end of the first quarter.