DALLAS--(BUSINESS WIRE)-- EnLink Midstream, LLC (NYSE: ENLC) (the General Partner) today announced that its subsidiary purchased 2,849,100 common units representing limited partner interests of EnLink Midstream Partners, LP (NYSE: ENLK) (the Master Limited Partnership) in a private placement. The Master Limited Partnership received proceeds of $50 million in the transaction, which will fund the Master Limited Partnership’s growth. Following the common unit purchase, the General Partner’s aggregate limited partner ownership interest in the Master Limited Partnership will increase to approximately 26.7%.

“We believe the purchase of ENLK’s common units is an attractive investment opportunity given the Partnership’s significant growth opportunities and key strategic advantages, which include fee-based contracts, Devon’s strong sponsorship, an attractive asset platform, and an investment-grade balance sheet,” said Barry E. Davis, EnLink President and Chief Executive Officer.

The securities offered in the private placement have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act and applicable state laws.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein.

About the EnLink Midstream Companies

EnLink Midstream is a leading, integrated midstream company with a diverse geographic footprint and a strong financial foundation, delivering tailored customer solutions for sustainable growth. EnLink Midstream is publicly traded through two entities: EnLink Midstream, LLC (NYSE: ENLC), the publicly traded general partner entity, and EnLink Midstream Partners, LP (NYSE: ENLK), the master limited partnership.

EnLink Midstream’s assets are located in many of North America’s premier oil and gas regions, including the Barnett Shale, Permian Basin, Cana-Woodford Shale, Arkoma-Woodford Shale, Eagle Ford Shale, Haynesville Shale, Gulf Coast region, Utica Shale and Marcellus Shale. Based in Dallas, Texas, EnLink Midstream’s assets include over 9,200 miles of gathering and transportation pipelines, 17 processing plants with 3.6 billion cubic feet per day of processing capacity, seven fractionators with 280,000 barrels per day of fractionation capacity, as well as barge and rail terminals, product storage facilities, purchase and marketing capabilities, brine disposal wells, an extensive crude oil trucking fleet and equity investments in certain private midstream companies.

Additional information about the EnLink companies can be found at www.enlink.com.

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Source: EnLink Midstream