American Midstream Partners LP closed the acquisition of a minority interest in Delta House from an affiliate of ArcLight Capital Partners LLC, the company said Sept. 21. The interest in Delta House was acquired for $162 million total consideration. ArcLight controls American Midstream’s general partner.

American Midstream acquired 25% of ArcLight’s 51.7% controlling interest in Delta House, a fee-based, semisubmersible floating production system, and associated oil and gas export pipelines in the Mississippi Canyon region of the deepwater Gulf of Mexico. Delta House is operated by LLOG Exploration Offshore LLC. It began operating in April, has seven wells currently online and has nameplate processing capacity of 80,000 barrels per day of oil and 200 million cubic feet per day of natural gas.

The acquisition was funded using a combination of net proceeds from the offering of 7.5 million common units that closed September 15 and borrowings under the revolving credit facility.

The company also said that on Sept. 18, an amendment to increase the revolving credit facility’s borrowing capacity to $750 million from $500 million was approved. Capacity could be increased to $900 million, the company said. The credit facility will support growth capital and other purposes.

Bank of America NA led the syndicate of 17 banks as administrative agent, collateral agent, L/C Issuer and lender. Natixis Bank, BNP and NBH Capital Finance joined the credit facility as new lenders, the company said.

American Midstream Partners LP is based in Denver.

Offshore