Simpson Thacher is representing WhiteWater in its entry into a definitive agreement to sell, together with affiliates of Diamondback Energy, 55% of the interests in BANGL, LLC to MPLX LP for $715 million. The transaction is expected to close in July 2025 and is subject to customary closing conditions. Following closing, the BANGL Pipeline will be a wholly-owned asset of MPLX.
The BANGL pipeline system transports up to 250 thousand barrels per day of natural gas liquids from the Permian basin of Texas to fractionation markets along the Gulf Coast.
The Simpson Thacher team includes Shamus Crosby, Katy Lukaszewski, Breen Haire, Tushar Parashar, Andrew Kingsbury, Gavin Jaco, Arthur Kopilevich, Kaitlyn Greening and John Carter (M&A); Adam Arikat, Eli Shalam and Elizabeth Trask (Tax); and Peter Guryan, Kelly Karapetyan and Jamie Logie (Antitrust).