Page 15 - NorthAmOil Week 07 2021

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Third Coast Midstream ENERGY TRANSITION waste and ambition of achieving a global
net-zero carbon future,” said Bob Powell,
completes successful debt Chevron, Brightmark Founder and CEO of Brightmark. “The joint
venture’s current RNG projects are on track to
refinancing expand partnership on dairy become fully operational as planned and with
this additional investment, we look forward
Lighthouse Infrastructure, a wholly owned biomethane fuel projects to extending the reach of our lifecycle carbon
subsidiary of Third Coast Midstream, has negative projects throughout the US, with
entered into a new five-year credit agreement Brightmark and Chevron USA today plans for future international expansion.”
consisting of a term loan facility in the initial announced the expansion of their previously BRIGHTMARK AND CHEVRON USA, February
aggregate principal amount of $490mn and a announced joint venture, Brightmark RNG 17, 2021
$60mn revolving credit facility. The proceeds Holdings LLC, to own projects across the
of the facility are being used to redeem the United States to produce and market dairy Blackheath Resources
outstanding Third Coast 2021 notes, repay biomethane, a renewable natural gas (RNG).
borrowings under Third Coast’s prior credit Brightmark RNG Holdings LLC’s and Wolverine Energy and
facility, and for general Lighthouse corporate subsidiaries currently own RNG projects
purposes. in Western New York, Western Michigan, Infrastructure announce
“Third Coast is extremely pleased to Central Florida and South Dakota. Additional
have completed its debt refinancing,” said equity investments by each company in agreement pursuant to
Matthew W. Rowland, president and chief the joint venture will fund construction of
executive officer. “The new facility extends infrastructure and commercial operation which Blackheath will
our debt maturities, significantly lowers our of five new dairy biomethane projects
interest expense, and provides ample access in Michigan and Arizona. Chevron will acquire RNG development
to liquidity. Third Coast’s Gulf of Mexico purchase RNG produced from these projects
midstream infrastructure business is well- and market the volumes for use in vehicles and clean energy assets
positioned for growth and continued creation operating on compressed natural gas.
of value for its investors.” “Working with Brightmark to add new for $150mn from Wolverine.
THIRD COAST MIDSTREAM, February 12, 2021 projects underpins our commitment to
supplying the world with affordable, reliable Blackheath to change its
and ever-cleaner energy,” said Andy Walz,
DOWNSTREAM president of Chevron’s Americas Fuels & name to Green Impact
Lubricants. “It’s an exciting time for Chevron
Howard Energy Partners as we continue to help advance the energy Partners
transition and help industries and consumers
closes on acquisition of that use our products build a lower carbon Blackheath Resources and Wolverine Energy
future.”
and Infrastructure today announced that
refinery services facility in partnership with Chevron to further they have entered into an amalgamation and
“We are delighted to expand our
arrangement agreement dated February 16,
Corpus Christi accelerate Brightmark’s mission to reimagine 2021 for the proposed sale of Wolverine’s
Howard Energy Partners (HEP) today
announced that it has closed on its previously
announced agreement with a subsidiary
of MPLX to purchase the Javelina facility,
located in Corpus Christi, Texas. Javelina is a
treating and fractionation plant that extracts
olefins, hydrogen, and natural gas liquids
(NGLs) from the gas streams produced by
local refineries, creating purity products that
are then sold to local markets on behalf of its
refiner-customers. Javelina produces a wide
range of product streams including hydrogen,
ethylene, ethane, propylene, propane, mixed
butane and other pentanes+ for use in the
energy and petrochemical markets. The
facility is connected by pipeline to all of
the major refineries in the Corpus Christi
area and provides a critical service to help
ensure the refineries’ productive capabilities.
Additionally, excess capacity at Javelina
provides the opportunity for future growth.
HOWARD ENERGY PARTNERS, February 15,
2021

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