DALLAS, August 9, 2016 – On August 4, 2016, Align Midstream Partners, LP (“Align”) closed on the acquisition of a 100 MMcf/d natural gas processing facility (“Panola I”) and 51 mile trunk line system (“Murvaul”) from Azure Midstream Partners LP (“Azure”). Panola I is a cryogenic gas processing plant located in Panola County, Texas with access to five residue gas pipelines and the Enterprise Panola NGL Pipeline. The Murvaul system not only connects Align’s current system to Panola I, it also provides a 12” diameter, high-pressure trunk line southwest towards Rusk County. The purchase price was $44.9 million in cash, less certain agreed-upon adjustments in respect of ad valorem taxes on the assets sold.

In connecting these acquired assets to its existing gathering and transportation system, Align will be able to quickly provide its customers a full suite of services for the same molecule of gas and dramatically expand its operating footprint.

“With the addition of Panola I, we’re excited to offer our customers a full suite of midstream services,” said Fritz Brinkman, President and CEO of Align. “The Murvaul trunk line doubles the reach of our current system and positions Align to grow with producers in East Texas. We appreciate Tailwater’s continued support in growing our Company.”