Sixth Street sells Iron Horse Midstream to Howard Energy Partners

Howard Energy Partners said it signed a definitive agreement to buy Iron Horse Midstream, a portfolio company of Sixth Street, adding midstream assets in the Anadarko Basin. The transaction is expected to close by the end of 2026, pending customary conditions and regulatory approvals.

The assets include roughly 400 miles of high- and low-pressure gas pipelines across Canadian, Caddo and Grady counties in Oklahoma, several compressor stations and a 120-acre processing complex with 425 MMcf/d of capacity. HEP said the deal brings its Midcontinent spending over the past two years to about $2.5 billion.

HEP CFO Herbie Goldstein cited long-term opportunity in the Anadarko Basin and thanked Sixth Street and the Iron Horse team. Sixth Street's Zack Winegrad said the firms expect to work together again. Moelis and Bracewell advised HEP; RBC, Jefferies and Skadden advised Iron Horse and Sixth Street.