Deal description: Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) announced the pricing of the previously announced underwritten secondary offering by certain subsidiaries of Chord Energy Corporation (NASDAQ: CHRD) (f/k/a Oasis Petroleum Inc.) (the “Selling Unitholders”) of an aggregate of 11,400,000 common units representing limited partner interests of Crestwood resulting in total gross proceeds to the Selling Unitholders of approximately $306.7 million (the “Public Offering”). The Selling Unitholders will receive all the proceeds from the Offering. Crestwood is not offering any of its common units in the Public Offering and will not receive any proceeds from the Public Offering.

Crestwood also entered into a common unit repurchase agreement with one of the Selling Unitholders pursuant to which it intends to repurchase up to an aggregate of $125 million of common units from such Selling Unitholder.

Baker Botts represented Citigroup Global Markets Inc., which acted as the sole-bookrunning manager for the Public Offering.

Vinson & Elkins acted as issuer’s counsel.

Crestwood’s press release can be found here.

Baker Botts Lawyers/Offices Involved:

Corporate: Josh Davidson (Partner, Houston), Doug Getten (Partner, Houston), Garrett Hughey (Senior Associate, Houston), Marshall Heins (Associate, Houston) and Chelsea Johnson (Associate, Houston)

Tax: Chuck Campbell (Special Counsel, Houston)

Environmental: Matthew Kuryla (Partner, Houston) Harrison Reback (Senior Associate, Houston)

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