ArcLight Capital Partners to acquire a 16% stake in Gulf Coast Express pipeline from Kinetik for $540m.

ArcLight Capital Partners, a private equity firm, agreed to acquire a 16% stake in Gulf Coast Express pipeline, a gas pipeline company, from Kinetik, a midstream operator, for $540m. The disposal of GCX pipeline comes as a one funding source for the Durango acquisition and capital for the new gathering and processing agreement. The transaction is expected to close in the next few weeks.