Delphi Midstream Partners, LLC (DMP) has acquired a natural gas gathering and compression system, the Mansfield System, located in Tarrant County, Texas from Carrizo Oil & Gas, Inc. (Carrizo). The Mansfield System has a current operating capacity of 70 mmcf per day and can be expanded to 90 mmcf per day with additional compression. In addition, DMP has the right to invest up to an additional $100 million to develop midstream infrastructure in Northeastern Pennsylvania in support of Carrizo's Marcellus Shale development plan.

Berenson & Co. acted as financial advisor to DMP for this transaction and Bingham McCutchen served as counsel to DMP.

DMP is interested in midstream energy businesses and assets in North America requiring a minimum equity investment of $50 million. DMP typically seeks control positions, but will also consider joint ventures or influential minority interests. The DMP business model is to create long-term value in its investment companies through operational and commercial excellence, organic and strategic growth opportunities and management-investor alignment of interests.

Tags: Delphi Midstream Partners, LLC