Sidley represented Morgan Stanley Energy Partners and its portfolio company, Durango Midstream LLC, a leading natural gas gathering, processing, and marketing company, in connection with the sale of Durango Midstream’s subsidiary, Durango Permian LLC, which owns and operates a world-class midstream business in New Mexico, to Kinetik (NYSE: KNTK), a midstream company operating in the Delaware Basin. Kinetik agreed to acquire Durango Permian for aggregate consideration of US$765 million, which is composed of approximately US$315 million of cash, 11.5 million Kinetik Class C common stock and an equivalent number of Common Units in Kinetik Holdings LP issued to Durango Midstream in two installments (3.8 million shares and units at closing and 7.7 million shares and units on July 1, 2025) and US$75 million in contingent cash consideration. The Sidley team was led by Cliff Vrielink, Chris Folmsbee, and George Vlahakos (Energy and Infrastructure), and included assistance from Eduardo Marquez Certucha and John Brannan III (Energy and Infrastructure); Heather Palmer (Environmental); Zack Pullin and Aaron Mitchell (Tax); Kiana Shin, Meredith Kuykendall, and Alex Thompson (Energy and Infrastructure).~~Sidley represented Morgan Stanley Energy Partners and its portfolio company, Durango Midstream LLC, a leading natural gas gathering, processing, and marketing company, in connection with the sale of Durango Midstream’s subsidiary, Durango Permian LLC, which owns and operates a world-class midstream business in New Mexico, to Kinetik (NYSE: KNTK), a midstream company operating in the Delaware Basin. Kinetik agreed to acquire Durango Permian for aggregate consideration of US$765 million, which is composed of approximately US$315 million of cash, 11.5 million Kinetik Class C common stock and an equivalent number of Common Units in Kinetik Holdings LP issued to Durango Midstream in two installments (3.8 million shares and units at closing and 7.7 million shares and units on July 1, 2025) and US$75 million in contingent cash consideration. The Sidley team was led by Cliff Vrielink, Chris Folmsbee, and George Vlahakos (Energy and Infrastructure), and included assistance from Eduardo Marquez Certucha and John Brannan III (Energy and Infrastructure); Heather Palmer (Environmental); Zack Pullin and Aaron Mitchell (Tax); Kiana Shin, Meredith Kuykendall, and Alex Thompson (Energy and Infrastructure).