News

Elevate Midstream Acquires Gas Gathering, Treating and Processing Assets in East Texas

Acquisitions Establish Elevate’s Position and Platform for Growth in East Texas 


HOUSTON, TEXAS, November 15, 2018 – Elevate Midstream Partners, LLC (“Elevate” or the “Company”), a full-service midstream company headquartered in Houston, Texas, today announced the acquisitions of Woodland Midstream Partners, LP (“Woodland”) and the assets of Orion Pipeline, LLC (“Orion”) which consist of gas gathering, treating and processing assets in East Texas (the “Woodland Acquisition”, the “Orion Acquisition”, or together the “Transaction”). The Transaction was completed in partnership with Elevate’s financial sponsor, Tailwater Capital, an energy-focused private equity firm based in Dallas.

Elevate provides a comprehensive suite of midstream services for exploration and production companies including natural gas gathering, processing, compression, dehydration and liquids stabilization. Through these acquisitions, the Company has established a strong asset base in East Texas and will continue exploring additional opportunities for growth in and around the existing system. Following the completion of the Transaction, Elevate will own and operate more than 180 miles of active pipelines, 19,000-horse power of compression, an 80 MMcf/d gas processing plant, and related dehydration and NGL stabilization equipment.

“We are pleased to complete the Woodland and Orion acquisitions,” said Roger Fox, Chief Executive Officer of Elevate Midstream. “With assets strategically located in the core of the Haynesville and Cotton Valley formations and significant opportunities for continued growth and development across the combined company, Woodland and Orion provide a strong platform for Elevate and we look forward to growing our asset base as we continue to service our East Texas producers.”

“Since partnering with Elevate in October 2017, we have worked closely with Roger and his team to execute on the Company’s growth strategy,” said Joel Fry, a Principal at Tailwater Capital. “These acquisitions are a prime example of Elevate’s commitment to identifying underutilized assets with the potential for growth through improved operational and business development initiatives and further strengthen Elevate’s growing platform.”

The Woodland Acquisition includes systems throughout both Texas and Louisiana, providing Elevate with an existing natural gas gathering, treating, compression and processing footprint. Additionally, the acquisition and strategic positioning of the Woodland asset includes several opportunities for growth, leveraging existing relationships around the extensive pipeline network acquired in the Transaction. In conjunction with the Transaction, select members of the Woodland management team will join Elevate, enhancing the Company’s operational and business development capabilities. 

Orion provides natural gas gathering, treating and compression services for production, also primarily from the Haynesville and Cotton Valley formations, in Western Panola and Eastern Rusk Counties in East Texas. The Orion Acquisition is a complementary asset base comprised of five systems that provide additional scale and the opportunity to drive synergies across the combined platform.

About Elevate Midstream Partners LLC

Headquartered in Houston, Texas, Elevate Midstream Partners LLC is a private midstream service company focused on providing responsive, scalable, value enhancing midstream solutions to exploration and production customers across the US onshore oil and gas production basins. Elevate Midstream’s services include natural gas gathering, compression, treating, processing and transportation; crude oil and condensate gathering, stabilization, transportation and storage; produced water gathering and disposal, and related marketing services. Elevate Midstream is backed by Tailwater Capital LLC with an initial equity commitment of $100 million. For more information, please visit: www.elevatemidstream.com.

About Tailwater Capital, LLC 

Dallas-based Tailwater Capital is a highly specialized, growth-oriented energy private equity firm with a well-established track record, having executed more than 100 energy transactions in the upstream and midstream sectors representing over $18.8 billion in transaction value. Tailwater currently manages over $2.7 billion in committed capital, over $800 million of which is available for new investments. For more information, please visit www.tailwatercapital.com.


Media Contact 

Jon Keehner / Julie Oakes / Kate Clark 

Joele Frank, Wilkinson Brimmer Katcher 

212-355-4449

Elevate Midstream Announced Up To $100 Million Equity Commitment From Tailwater Capital LLC

HOUSTON, TEXAS October 31, 2017 — Elevate Midstream Partners, LLC (“Elevate Midstream”), a full-service midstream company headquartered in Houston, Texas, announced an equity commitment of up to $100 million from Tailwater Capital LLC (“Tailwater”), an energy-focused private equity firm based in Dallas, Texas.  Elevate Midstream is committed to raising current industry service and reliability standards for an overlooked market segment among the small- to mid-sized U.S. production companies with onshore operations across the United States. Elevate Midstream’s services include natural gas gathering, compression, treating, processing and transportation; crude oil and condensate gathering, stabilization, transportation and storage; produced water gathering and disposal, and related marketing services.

The Company is led by Chief Executive Officer Roger Fox, Chief Financial Officer Roger Ondreko and Chief Commercial Officer James Arnold. The management team brings a diverse set of global experiences from various companies including BG Group plc, Macquarie Bank Limited, BHP, Constellation Energy Group, El Paso Corporation, Williams Companies Inc, Crosstex Energy LP, Eagle Rock Energy LP, and Texon LP. Collectively, the team has over sixty years of industry experience managing natural gas, crude and liquefiable hydrocarbon shale and conventional assets and transactions within the upstream, midstream, power generation and energy banking sectors. 

Roger Fox, Chief Executive Officer of Elevate Midstream, said, “We couldn’t be more excited to partner with Tailwater to create a company focused on elevating customer standards for relationship driven, value oriented services within the midstream energy business. The Elevate team has a proven track record of delivering responsive and reliable midstream services to customers of all sizes across multiple basins with unique development goals. This background paired with the financial partnership with Tailwater will allow us to expedite our growth as we work to address an overlooked market segment among small to mid-sized production companies.”

Jason Downie, Managing Partner at Tailwater Capital, said: “Roger and his team have significant experience delivering ‘win-win’ customer focused midstream solutions. We believe that management’s extensive operational experience, deep industry relationships and track record of identifying scalable midstream opportunities will lead to a successful outcome. We are excited about this partnership and expect to increase our commitment with Elevate Midstream as the company executes its growth strategy.”


About Elevate Midstream Partners LLC


Headquartered in Houston, Texas, Elevate Midstream Partners LLC is a private midstream service company focused on providing responsive, scalable, value enhancing midstream solutions to exploration and production customers across the US onshore oil and gas production basins. Elevate Midstream’s services include natural gas gathering, compression, treating, processing and transportation; crude oil and condensate gathering, stabilization, transportation and storage; produced water gathering and disposal, and related marketing services. Elevate Midstream is backed by Tailwater Capital LLC with an equity commitment of up to $100 million. For more information, please visit: www.elevatemidstream.com


About Tailwater Capital LLC


Dallas-based Tailwater Capital is a highly specialized, growth-oriented energy private equity firm with a well-established track record, having executed more than 65 energy transactions in the upstream and midstream sectors representing over $16.6 billion in transaction value. Tailwater currently manages over $2.1 billion in committed capital, over $700 million of which is available for new investments. Tailwater is focused on acquiring and growing midstream assets as well as participating in non-operated upstream opportunities in select basins. For more information, please visit: www.tailwatercapital.com.


Contact: 


Elevate Midstream Partners LLC

1415   Louisiana, Suite 3400

Houston, Texas 77002

info@elevatemidstream.com

Tailwater Capital LLC

2021 McKinney   Ave, Suite 1250

Dallas, Texas   75201

info@tailwatercapital.com