Houston-based Canyon Midstream Partners LLC secured a four-year, $50 million credit facility, the company said Sept. 4.

The facility can be expanded to $100 million, the company said, noting that proceeds will support expansion plans for the Permian Basin, Eaglebine and Tuscaloosa Marine Shale (TMS). In the Permian Basin, the company is working on the James Lake project, which will be complete in this year’s fourth quarter, Canyon said.

The Foster Creek processing plant in Wilkinson County, Miss., will serve the TMS, and the Trinity River midstream system in Houston and Madison County, Texas, will support the Eaglebine, Canyon added.

Wells Fargo Securities LLC was the sole lead arranger and sole book-runner. Wells Fargo Bank NA was the administrative agent and Royal Bank of Canada was the syndication agent, the company said.

Vinson & Elkins LLP was Wells Fargo’s legal counsel, while Porter Hedges was Canyon’s, the company said.

The facility closed Aug. 29, Canyon noted.

"Canyon appreciates the opportunity to work with proven lenders to the midstream sector such as Wells Fargo and RBC. Their experience and understanding of Canyon's expansion plans allowed this transaction to develop very quickly with attractive terms and flexibility for the next stage of our company's growth. We believe the lending capabilities of Wells Fargo and RBC will enhance Canyon's equity capital commitment from Kayne Anderson," said Michael Walsh, Canyon’s president and CEO.

Canyon is backed by $300 million in equity from Kayne Anderson Energy Funds, which is part of Houston-based investment firm Kayne Anderson Capital Advisors LP, the company added.