HOUSTON — May 10, 2005 – LAWFUEL – The Law News Network – The international law firm of Chadbourne & Parke LLP recently represented Cheyenne Plains Gas Pipeline Company, L.L.C., a wholly-owned El Paso subsidiary, in securing a $278 million dollar credit facility to refinance the costs of constructing a pipeline to distribute Rocky Mountain natural gas.
The deal is significant as it will help alleviate natural gas shortages. The Rockies contain some of the most economical untapped natural gas supplies in the United States, and this pipeline will help distribute the gas out of the region.
The financing was finalized on May 9, 2005 after extensive negotiations.
Chadbourne partner Todd Alexander of Houston led the Chadbourne efforts, closing the deal with significant help of associates in both Houston and New York, including Jeremy Rosenshine and Megan Prout.
The pipeline commenced fully powered commercial operations on January 31, 2005. The 380 mile long, 36″ pipeline is being utilized for the transportation of natural gas from collection interconnections near Cheyenne, Wyo., to distribution interconnections near Greensburg, Kans. Part of the loan proceeds will fund phase II of the project, an increase in the pipeline’s capacity from 560 MDth/d to 730 MDth/d.
This was the first transaction for Cheyenne Plains. It will enable Cheyenne Plains to access supply pipelines of El Paso subsidiaries Colorado Interstate Gas Co. Wyoming Interstate Co. for distribution to at least six interstate pipeline systems that are downstream of the Cheyenne Plains facilities.
About Chadbourne & Parke LLP
Chadbourne & Parke LLP, an international law firm headquartered in New York City, provides a full range of legal services, including mergers and acquisitions, securities, project finance, corporate finance, energy, telecommunications, commercial and products liability litigation, securities litigation and regulatory enforcement, white collar defense, intellectual property, antitrust, domestic and international tax, reinsurance and insurance, environmental, real estate, bankruptcy and financial restructuring, employment law and ERISA, trusts and estates and government contract matters. The Firm has offices in New York, Washington, D.C., Los Angeles, Houston, Moscow, Kyiv, Warsaw (through a Polish partnership), Beijing and a multinational partnership, Chadbourne & Parke, in London. For additional information, visit www.chadbourne.com.
