UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
JP ENERGY PARTNERS LP
(Name of Issuer)
Common Units Representing Limited Partner Interests
(Title of Class of Securities)
46643C 109
(CUSIP Number)
December 31, 2014
(Date of Event which Requires filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
¨ Rule 13d-1(b)
¨ Rule 13d-1(c)
x Rule 13d-1(d)
* | The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. |
The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. Y938M 101 |
Schedule 13G | Page 2 of 8 |
1 | NAMES OF REPORTING PERSONS
Lonestar Midstream Holdings, LLC | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) ¨
| |||||
3 | SEC USE ONLY
| |||||
4 | CITIZEN OR PLACE OF ORGANIZATION
Delaware | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
| ||||
6 | SHARED VOTING POWER
18,666,841(1) | |||||
7 | SOLE DISPOSITIVE POWER
| |||||
8 | SHARED DISPOSITIVE POWER
18,666,841(1) | |||||
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,666,841(1) | |||||
10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
Not Applicable | |||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
51.2%(2) | |||||
12 | TYPE OF REPORTING PERSON
OO |
(1) | Represents 3,514,914 common units representing limited partner interests (Common Units), or 19.3% of the outstanding Common Units, and 14,342,733 subordinated units representing limited partner interests (Subordinated Units), or 78.7% of the outstanding Subordinated Units, in the Issuer held directly by Lonestar Midstream Holdings, LLC, and 159,273 Common Units, or 0.9% of the outstanding Common Units, and 649,921 Subordinated Units, or 3.6% of the outstanding Subordinated Units, held by JP Energy Development LP, a wholly owned subsidiary of Lonestar Midstream Holdings, LLC. The Subordinated Units may be converted into Common Units on a one-for-one basis after expiration of the subordination period (as described in the Issuers Third Amended and Restated Agreement of Limited Partnership, dated October 7, 2014). See Item 4 for a description of the ownership relationship between the Reporting Persons. |
(2) | Based upon 18,213,502 Common Units and 18,213,502 Subordinated Units outstanding as of November 5, 2014, as reported in the Issuers most recent Form 10-Q filed on November 10, 2014. For purposes of the percent of class reported in row 11, the Subordinated Units are considered converted. |
CUSIP: 46643C 109 |
Schedule 13G |
1 | NAMES OF REPORTING PERSONS
ArcLight Capital Partners, LLC | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) ¨
| |||||
3 | SEC USE ONLY
| |||||
4 | CITIZEN OR PLACE OF ORGANIZATION
Delaware | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
18,666,841(1) | ||||
6 | SHARED VOTING POWER
| |||||
7 | SOLE DISPOSITIVE POWER
18,666,841(1) | |||||
8 | SHARED DISPOSITIVE POWER
| |||||
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,666,841(1) | |||||
10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
Not Applicable | |||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
51.2%(2) | |||||
12 | TYPE OF REPORTING PERSON
OO |
(1) | Represents 3,514,914 common units representing limited partner interests (Common Units), or 19.3% of the outstanding Common Units, and 14,342,733 subordinated units representing limited partner interests (Subordinated Units), or 78.7% of the outstanding Subordinated Units, in the Issuer held directly by Lonestar Midstream Holdings, LLC, and 159,273 Common Units, or 0.9% of the outstanding Common Units, and 649,921 Subordinated Units, or 3.6% of the outstanding Subordinated Units, held by JP Energy Development LP, a wholly owned subsidiary of Lonestar Midstream Holdings, LLC. The Subordinated Units may be converted into Common Units on a one-for-one basis after expiration of the subordination period (as described in the Issuers Third Amended and Restated Agreement of Limited Partnership, dated October 7, 2014). See Item 4 for a description of the ownership relationship between the Reporting Persons. |
(2) | Based upon 18,213,502 Common Units and 18,213,502 Subordinated Units outstanding as of November 5, 2014, as reported in the Issuers most recent Form 10-Q filed on November 10, 2014. For purposes of the percent of class reported in row 11, the Subordinated Units are considered converted. |
CUSIP: 46643C 109 |
Schedule 13G |
1 | NAMES OF REPORTING PERSONS
ArcLight Capital Holdings, LLC | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) ¨
| |||||
3 | SEC USE ONLY
| |||||
4 | CITIZEN OR PLACE OF ORGANIZATION
Delaware | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
| ||||
6 | SHARED VOTING POWER
18,666,841(1) | |||||
7 | SOLE DISPOSITIVE POWER
| |||||
8 | SHARED DISPOSITIVE POWER
18,666,841(1) | |||||
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,666,841(1) | |||||
10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
Not Applicable | |||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
51.2%(2) | |||||
12 | TYPE OF REPORTING PERSON
OO |
(1) | Represents 3,514,914 common units representing limited partner interests (Common Units), or 19.3% of the outstanding Common Units, and 14,342,733 subordinated units representing limited partner interests (Subordinated Units), or 78.7% of the outstanding Subordinated Units, in the Issuer held directly by Lonestar Midstream Holdings, LLC, and 159,273 Common Units, or 0.9% of the outstanding Common Units, and 649,921 Subordinated Units, or 3.6% of the outstanding Subordinated Units, held by JP Energy Development LP, a wholly owned subsidiary of Lonestar Midstream Holdings, LLC. The Subordinated Units may be converted into Common Units on a one-for-one basis after expiration of the subordination period (as described in the Issuers Third Amended and Restated Agreement of Limited Partnership, dated October 7, 2014). See Item 4 for a description of the ownership relationship between the Reporting Persons. |
(2) | Based upon 18,213,502 Common Units and 18,213,502 Subordinated Units outstanding as of November 5, 2014, as reported in the Issuers most recent Form 10-Q filed on November 10, 2014. For purposes of the percent of class reported in row 11, the Subordinated Units are considered converted. |
CUSIP: 46643C 109 |
Schedule 13G |
1 | NAMES OF REPORTING PERSONS
ArcLight Energy Partners Fund V, L.P. | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) ¨
| |||||
3 | SEC USE ONLY
| |||||
4 | CITIZEN OR PLACE OF ORGANIZATION
Delaware | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
| ||||
6 | SHARED VOTING POWER
18,666,841(1) | |||||
7 | SOLE DISPOSITIVE POWER
| |||||
8 | SHARED DISPOSITIVE POWER
18,666,841(1) | |||||
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,666,841(1) | |||||
10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
Not Applicable | |||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
51.2%(2) | |||||
12 | TYPE OF REPORTING PERSON
PN |
(1) | Represents 3,514,914 common units representing limited partner interests (Common Units), or 19.3% of the outstanding Common Units, and 14,342,733 subordinated units representing limited partner interests (Subordinated Units), or 78.7% of the outstanding Subordinated Units, in the Issuer held directly by Lonestar Midstream Holdings, LLC, and 159,273 Common Units, or 0.9% of the outstanding Common Units, and 649,921 Subordinated Units, or 3.6% of the outstanding Subordinated Units, held by JP Energy Development LP, a wholly owned subsidiary of Lonestar Midstream Holdings, LLC. The Subordinated Units may be converted into Common Units on a one-for-one basis after expiration of the subordination period (as described in the Issuers Third Amended and Restated Agreement of Limited Partnership, dated October 7, 2014). See Item 4 for a description of the ownership relationship between the Reporting Persons. |
(2) | Based upon 18,213,502 Common Units and 18,213,502 Subordinated Units outstanding as of November 5, 2014, as reported in the Issuers most recent Form 10-Q filed on November 10, 2014. For purposes of the percent of class reported in row 11, the Subordinated Units are considered converted. |
CUSIP: 46643C 109 |
Schedule 13G |
1 | NAMES OF REPORTING PERSONS
JP Energy Development LP | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) ¨
| |||||
3 | SEC USE ONLY
| |||||
4 | CITIZEN OR PLACE OF ORGANIZATION
Delaware | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
809,194 (1) | ||||
6 | SHARED VOTING POWER
| |||||
7 | SOLE DISPOSITIVE POWER
809,194 (1) | |||||
8 | SHARED DISPOSITIVE POWER
| |||||
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
809,194 (1) | |||||
10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
Not Applicable | |||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.2%(2) | |||||
12 | TYPE OF REPORTING PERSON
PN |
(1) | Represents 159,273 common units representing limited partner interests (Common Units), or 0.9% of the outstanding Common Units, and 649,921 subordinated units representing limited partner interests (Subordinated Units), or 3.6% of the outstanding Subordinated Units, held by JP Energy Development LP, a wholly owned subsidiary of Lonestar Midstream Holdings, LLC. The Subordinated Units may be converted into Common Units on a one-for-one basis after expiration of the subordination period (as described in the Issuers Third Amended and Restated Agreement of Limited Partnership, dated October 7, 2014). See Item 4 for a description of the ownership relationship between the Reporting Persons. |
(2) | Based upon 18,213,502 Common Units and 18,213,502 Subordinated Units outstanding as of November 5, 2014, as reported in the Issuers most recent Form 10-Q filed on November 10, 2014. For purposes of the percent of class reported in row 11, the Subordinated Units are considered converted. |
CUSIP: 46643C 109 |
Schedule 13G |
1 | NAMES OF REPORTING PERSONS
Daniel R. Revers | |||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) ¨
| |||||
3 | SEC USE ONLY
| |||||
4 | CITIZEN OR PLACE OF ORGANIZATION
Delaware | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 | SOLE VOTING POWER
| ||||
6 | SHARED VOTING POWER
18,666,841(1) | |||||
7 | SOLE DISPOSITIVE POWER
| |||||
8 | SHARED DISPOSITIVE POWER
18,666,841(1) | |||||
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,666,841(1) | |||||
10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
Not Applicable | |||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
51.2%(2) | |||||
12 | TYPE OF REPORTING PERSON
IN |
(1) | Represents 3,514,914 common units representing limited partner interests (Common Units), or 19.3% of the outstanding Common Units, and 14,342,733 subordinated units representing limited partner interests (Subordinated Units), or 78.7% of the outstanding Subordinated Units, in the Issuer held directly by Lonestar Midstream Holdings, LLC, and 159,273 Common Units, or 0.9% of the outstanding Common Units, and 649,921 Subordinated Units, or 3.6% of the outstanding Subordinated Units, held by JP Energy Development LP, a wholly owned subsidiary of Lonestar Midstream Holdings, LLC. The Subordinated Units may be converted into Common Units on a one-for-one basis after expiration of the subordination period (as described in the Issuers Third Amended and Restated Agreement of Limited Partnership, dated October 7, 2014). See Item 4 for a description of the ownership relationship between the Reporting Persons. |
(2) | Based upon 18,213,502 Common Units and 18,213,502 Subordinated Units outstanding as of November 5, 2014, as reported in the Issuers most recent Form 10-Q filed on November 10, 2014. For purposes of the percent of class reported in row 11, the Subordinated Units are considered converted. |
CUSIP: 46643C 109 |
Schedule 13G |
ITEM 1. | (a) Name of Issuer: |
JP Energy Partners LP (the Issuer)
(b) | Address of Issuers Principal Executive Offices: |
600 East Las Colinas Boulevard
Suite 2000
Irving, Texas 75039
ITEM 2. | (a) Name of Person Filing: |
Lonestar Midstream Holdings, LLC
ArcLight Capital Partners, LLC
ArcLight Capital Holdings, LLC
ArcLight Energy Partners Fund V, L.P.
JP Energy Development LP
Daniel R. Revers
(b) | Address or Principal Business Office: |
Principal business office of all persons filing:
200 Clarendon Street
55th Floor
Boston, MA 02117
(c) | Citizenship: |
Lonestar Midstream Holdings, LLC | Delaware | |||||
ArcLight Capital Partners, LLC | Delaware | |||||
ArcLight Capital Holdings, LLC | Delaware | |||||
ArcLight Energy Partners Fund V, L.P. | Delaware | |||||
JP Energy Development LP | Delaware | |||||
Daniel R. Revers | United States |
(d) | Title of Class of Securities: |
Common units representing limited partner interests (Common Units)
(e) | CUSIP Number: |
46643C 109
ITEM 3. |
Not applicable.
CUSIP: 46643C 109 |
Schedule 13G |
ITEM 4. | Ownership |
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
Ownership (a-c)
The ownership information presented below represents beneficial ownership of Common Units and subordinated units representing limited partner interests (Subordinated Units) of the Issuer as of December 31, 2014, based upon 18,213,502 Common Units and 18,213,502 Subordinated Units outstanding as of November 5, 2014, as reported in the Issuers Form 10-Q filed on November 10, 2014. The Reporting Persons have shared power to vote or direct the vote of, and to dispose or direct the disposition of, the securities listed below.
Reporting Person |
Number of Common Units |
Percentage of Common Units |
Number of Subordinated Units |
Percentage of Subordinated Units |
Total Beneficially Owned (1)(2)(3) |
Percentage (As Converted) (2) |
||||||||||||||||||
Lonestar Midstream Holdings, LLC | 3,674,187 | 20.2 | % | 14,992,654 | 82.3 | % | 18,666,841 | 51.2 | % | |||||||||||||||
ArcLight Capital Partners, LLC | 3,674,187 | 20.2 | % | 14,992,654 | 82.3 | % | 18,666,841 | 51.2 | % | |||||||||||||||
ArcLight Capital Holdings, LLC | 3,674,187 | 20.2 | % | 14,992,654 | 82.3 | % | 18,666,841 | 51.2 | % | |||||||||||||||
ArcLight Energy Partners Fund V, L.P. | 3,674,187 | 20.2 | % | 14,992,654 | 82.3 | % | 18,666,841 | 51.2 | % | |||||||||||||||
JP Energy Development LP | 159,273 | 0.9 | % | 649,921 | 3.6 | % | 809,194 | 2.2 | % | |||||||||||||||
Daniel R. Revers | 3,674,187 | 20.2 | % | 14,992,654 | 82.3 | % | 18,666,841 | 51.2 | % |
(1) | Represents 3,514,914 Common Units, or 19.3% of the outstanding Common Units, and 14,342,733 Subordinated Units, or 78.7% of the outstanding Subordinated Units, in the Issuer held directly by Lonestar Midstream Holdings, LLC, and 159,273 Common Units, or 0.9% of the outstanding Common Units, and 649,921 Subordinated Units, or 3.6% of the outstanding Subordinated Units, held by JP Energy Development LP, a wholly owned subsidiary of Lonestar Midstream Holdings, LLC. |
(2) | The Subordinated Units may be converted into Common Units on a one-for-one basis after the expiration of the subordination period (as described in the Issuers Third Amended and Restated Agreement of Limited Partnership). |
(3) | ArcLight Energy Partners Fund V, L.P. (Fund V) indirectly owns and controls Lonestar Midstream Holdings, LLC (Lonestar) and therefore may be deemed to indirectly beneficially own the Common Units and Subordinated Units held directly by Lonestar and indirectly by Lonestar as the owner of 100% of the equity interests of JP Energy Development LP (JPED). ArcLight Capital Partners, LLC (ArcLight Capital Partners) is the investment manager of, and ArcLight Capital Holdings, LLC is the managing partner of the general partner of, Fund V. Due to certain voting rights granted to Mr. Revers as a member of ArcLight Capital Partners investment committee, Mr. Revers may be deemed to indirectly beneficially own the units held by Lonestar and JPED, but disclaims any such ownership except to the extent of his pecuniary interest therein. |
ITEM 5. | Ownership of Five Percent or Less of a Class |
Not applicable.
CUSIP: 46643C 109 |
Schedule 13G |
ITEM 6. | Ownership of More than Five Percent on Behalf of Another Person |
Not applicable.
ITEM 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company |
Not applicable.
ITEM 8. | Identification and Classification of Members of the Group |
Not applicable.
ITEM 9. | Notice of Dissolution of Group |
Not applicable.
ITEM 10. | Certification |
Not applicable.
CUSIP: 46643C 109 |
Schedule 13G |
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: February 17, 2015
ARCLIGHT CAPITAL PARTNERS, LLC | ||||||||
By: | /s/ Daniel R. Revers | |||||||
Name: | Daniel R. Revers | |||||||
Title: | Managing Partner | |||||||
ARCLIGHT CAPITAL HOLDINGS, LLC | ||||||||
By: | /s/ Daniel R. Revers | |||||||
Name: | Daniel R. Revers | |||||||
Title: | Managing Partner | |||||||
ARCLIGHT ENERGY PARTNERS FUND V, L.P. | ||||||||
By: | ArcLight PEF GP V, LLC | |||||||
Its: | General Partner | |||||||
By: | ArcLight Capital Holdings, LLC | |||||||
Its: | Manager | |||||||
By: | /s/ Daniel R. Revers | |||||||
Name: | Daniel R. Revers | |||||||
Title: | Managing Partner | |||||||
LONESTAR MIDSTREAM HOLDINGS, LLC | ||||||||
By: | AL Lonestar, LLC | |||||||
Its: | Managing Member | |||||||
By: | /s/ Daniel R. Revers | |||||||
Name: | Daniel R. Revers | |||||||
Title: | President | |||||||
JP ENERGY DEVELOPMENT LP | ||||||||
By: | Lonestar Midstream Holdings, LLC | |||||||
Its: | Sole Member | |||||||
By: | AL Lonestar, LLC | |||||||
Its: | Managing Member | |||||||
By: | /s/ Daniel R. Revers | |||||||
Name: | Daniel R. Revers | |||||||
Title: | President | |||||||
/s/ Daniel R. Revers | ||||||||
Daniel R. Revers |
CUSIP: 46643C 109 |
Schedule 13G |
JOINT FILING AGREEMENT
In accordance with Rule 13(d)-1(k)(1) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with each other of the attached statement on Schedule 13G and to all amendments to such statement.
IN WITNESS WHEREOF, the undersigned hereby executed this Agreement as of February 17, 2015
ARCLIGHT CAPITAL PARTNERS, LLC | ||||||||
By: | /s/ Daniel R. Revers | |||||||
Name: | Daniel R. Revers | |||||||
Title: | Managing Partner | |||||||
ARCLIGHT CAPITAL HOLDINGS, LLC | ||||||||
By: | /s/ Daniel R. Revers | |||||||
Name: | Daniel R. Revers | |||||||
Title: | Managing Partner | |||||||
ARCLIGHT ENERGY PARTNERS FUND V, L.P. | ||||||||
By: | ArcLight PEF GP V, LLC | |||||||
Its: | General Partner | |||||||
By: | ArcLight Capital Holdings, LLC | |||||||
Its: | Manager | |||||||
By: | /s/ Daniel R. Revers | |||||||
Name: | Daniel R. Revers | |||||||
Title: | Managing Partner | |||||||
LONESTAR MIDSTREAM HOLDINGS, LLC | ||||||||
By: | AL Lonestar, LLC | |||||||
Its: | Managing Member | |||||||
By: | /s/ Daniel R. Revers | |||||||
Name: | Daniel R. Revers | |||||||
Title: | President | |||||||
JP ENERGY DEVELOPMENT LP | ||||||||
By: | Lonestar Midstream Holdings, LLC | |||||||
Its: | Sole Member | |||||||
By: | AL Lonestar, LLC | |||||||
Its: | Managing Member | |||||||
By: | /s/ Daniel R. Revers | |||||||
Name: | Daniel R. Revers | |||||||
Title: | President | |||||||
/s/ Daniel R. Revers | ||||||||
Daniel R. Revers |