Howard Energy Partners to Acquire Iron Horse Midstream

Business

Howard Energy Partners to Acquire Iron Horse Midstream

2026-10-27 21:36 Last Updated At：22:00

SAN ANTONIO--(BUSINESS WIRE)--Oct 27, 2026--

Howard Energy Partners (HEP) today announced that it has executed a definitive agreement to acquire Iron Horse Midstream (Iron Horse), a portfolio company of Sixth Street, expanding its position in the prolific Anadarko Basin. The acquisition is supported by multidecade customer contracts covering approximately 167,000 dedicated acres and builds on HEP’s strong foundation for long-term growth and value creation. With this transaction, HEP’s investment in Midcontinent acquisitions over the past two years will total approximately $2.5 billion, advancing its strategy to build a leading, customer-focused energy infrastructure platform across the region.

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The Iron Horse acquisition includes approximately 400 miles of high- and low-pressure natural gas pipelines in Canadian, Caddo and Grady counties in Oklahoma, multiple compressor stations, and the 120-acre Iron Horse processing complex with a capacity of 425 million cubic feet per day (MMcf/d) of natural gas. The assets provide substantial synergies with HEP’s existing infrastructure platform, solidifying the company’s commitment to connecting natural gas production from the Midcontinent region to expanding Gulf Coast demand markets, including LNG export facilities, industrial users, power generation, and emerging data center projects. See attached map.

“First, I want to thank Sixth Street and the Iron Horse team for their confidence in us and for the integrity they demonstrated throughout this transaction,” said Herbie Goldstein, Howard Energy Partners Chief Financial Officer and head of corporate development. “We see tremendous long-term opportunity in the Anadarko Basin. The acquisition of Iron Horse builds on our disciplined growth strategy, expanding our footprint in a highly productive area with multiple producing formations, while enhancing the integrated services we offer customers. We are excited about this next step in our company’s growth and the opportunity to further develop the infrastructure needed to connect this prolific basin with growing natural gas markets across Oklahoma, Texas and the Gulf Coast.”

“We want to thank Howard Energy Partners for their seamless and transparent approach to the acquisition of Iron Horse, they have been a pleasure to work with and we are excited to work together again in the future,” said Zack Winegrad, Partner, Co-Head of Energy and Co-Head of Global Infrastructure at Sixth Street.

In June, HEP announced two transactions that strengthened the company’s footprint across the Midcontinent region: the buyout of the remaining ownership interest in the Midship Pipeline, and the acquisition of Superior Midstream, a Tulsa-based natural gas gathering and processing company with operations across Oklahoma, Kansas, the Texas Panhandle, and East Texas. Together with the Iron Horse acquisition, HEP’s footprint in Oklahoma will include nearly 2,000 miles of pipelines with approximately 2 billion cubic feet per day of capacity, 580 MMcf/d of natural gas processing capacity, and 540,000 compression horsepower.

The transaction is expected to close by year-end 2026, subject to customary closing conditions and receipt of applicable regulatory approvals. Moelis & Company LLC is serving as exclusive financial advisor to HEP, and Bracewell LLP is serving as its legal counsel. RBC Capital Markets and Jefferies LLC acted as financial advisors to Iron Horse and Sixth Street and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to Iron Horse and Sixth Street.

About Howard Energy Partners

Headquartered in San Antonio, Texas, Howard Energy Partners is one of the nation’s largest private energy infrastructure companies, owning and operating a unique portfolio of assets in Texas, New Mexico, Pennsylvania, Oklahoma, Kansas, and Mexico. Our diversified midstream platform spans the natural gas and liquids value chain and is strategically positioned to meet the world’s increasing demand for energy. For more information about Howard Energy Partners, our purpose-driven mission, and our focus on long-term value creation, please visit our website at howardenergypartners.com.

Wall Street drifts as Broadcom and other AI-related stocks help support the market

NEW YORK (AP) — Wall Street is holding relatively steady Tuesday as stocks in the artificial-intelligence industry help support the market, at least for now.

The S&P 500 rose 0.3% and pulled within 1.5% of its all-time high set earlier this month. The Dow Jones Industrial Average was down 9 points, or less than 0.1%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.5% higher.

The majority of stocks within the S&P 500 were falling, but gains for influential AI-related stocks made up for that. It's a calm moment for such stocks following weeks of swerving on worries about whether their boom is under threat because of how expensive it’s become for companies to borrow money to build data centers and buy more AI chips.

Broadcom climbed 3.3% after announcing a $63 billion financing deal where several Wall Street firms will help Anthropic get access to its XPU AI accelerators and networking solutions.

Elsewhere in the industry, Nvidia rose 0.8% and was the second-strongest force lifting the S&P 500 behind Broadcom. CoreWeave, a company that’s borrowed money to buy AI chips that it rents out to customers over the cloud, rose 3.3%, though it’s been careening between big gains and losses almost minute by minute in recent days.

General Motors climbed 4% after saying it’s moving its stock from a listing on the New York Stock Exchange to the Nasdaq. The automaker said the Nasdaq, which is home to several of the world’s biggest technology stocks, is a fit for its tech-driven strategy. The move could also allow GM to join the Nasdaq 100 index, which would force investment funds that mimic the index to buy it.

GM began trading on the NYSE in 1911.

JetBlue Airways flew 11.5% higher even though it reported a larger loss for the summer than analysts expected. CEO Joanna Geraghty said it expects to make more in operating profit off each $1 in revenue during the final three months of the year, even though fuel prices remain high.

Investors may have been bracing for something worse after the airline’s stock came into the day with a loss of nearly 48% for the year so far.

Another travel company, Royal Caribbean, also helped lead the market and rose 7.5%. The cruise operator delivered a stronger profit for the summer than analysts expected, while raising its profit forecast for the full year.

They helped offset a drop of 1.6% for Boeing, which reported a larger loss for the latest quarter than analysts expected.

Coca-Cola slipped 0.4% even though its profit and revenue for the third quarter topped analysts’ expectations.

Sherwin-Williams fell 2.8% after delivering a weaker profit than analysts expected. High mortgage rates have helped chill the housing industry, which in turn pressures demand for the paints and coatings the company sells.

“Customer sentiment and the leading indicators we track point to muted demand over the remainder of the year and into 2027,” CEO Heidi Petz said. At the same time, her company is dealing with inflation pushing up costs for raw materials.

Companies overall are under pressure to deliver big growth in profits. Expectations are high among financial analysts and investors, and that’s what allowed their stock prices to run to records recently despite high inflation, high interest rates and other concerns weighing on the market.

In the bond market, Treasury yields held relatively steady a day before the Federal Reserve is set to announce its latest decision on interest rates. The Fed last month hiked the fed funds rate for the first time in three years in hopes of slowing inflation, but the widespread expectation on Wall Street is that it will hold rates steady this time.

The yield on the 10-year Treasury edged down to 4.99% from 5.00% late Monday.

Helping to keep yields in check was a dip for oil prices. The price for a barrel of Brent crude slipped 0.4% to $110.24.

In stock markets abroad, indexes were mixed across Europe and Asia. Stocks jumped 3.1% in Seoul and fell 1.3% in Shanghai for two of the bigger moves.

AP Writers Elaine Lai and Matt Ott contributed to this report.