Kirkland & Ellis counseled LM Energy, a Dallas-based midstream company backed by Old Ironsides Energy, on the sale of LM Energy’s natural gas gathering system in the Northern Delaware Basin to Trace Midstream, backed by Quantum. The transaction includes existing and under-construction high-and low-pressure gas gathering systems in Eddy and Lea counties in New Mexico consisting of 170 miles of pipelines and 12 compressor stations. The new high-pressure southern extension will allow producers access to multiple processing outlets. Read the transaction press release The Kirkland team is led by corporate partners Kevin Crews and Adam Garmezy; and includes debt finance partner Lucas Spivey; and tax partner David Wheat.