I Squared Capital Sells Stake in Midstream Gathering System
I Squared Capital has sold to GE (NYSE:GE) unit, GE Energy Financial Services, a 28% equity stake in Whiptail Midstream, a company formed by I Squared Capital to manage and operate a newly constructed, 220 mile three-commodity (oil, gas, water) gathering system (“Gathering System”) in New Mexico, USA. I Squared Capital had previously acquired the Gathering System from WPX Energy (NYSE:WPX) in March 2016 for approximately $285 million in cash.
Whiptail Midstream is a subsidiary of Cube Midstream, a portfolio company of the ISQ Global Infrastructure Fund. The company is focused on providing midstream infrastructure solutions to operators in the oil window of the San Juan basin. The Gathering System, which was designed and constructed by WPX as part of its ongoing development efforts in the region, will continue to actively support WPX’s multi-year drilling program on its ~96,000 net acres in the basin. In addition, as an independent midstream company, Whiptail Midstream is actively looking to expand and offer other producers an efficient and reliable means of transporting commodities to market.
Adil Rahmathulla, Partner at I Squared Capital, said, “GE’s tremendous industry depth and experience makes them an invaluable partner in Whiptail Midstream. This transaction is an important step in the execution of our strategy to position Whiptail as the premier gathering system in the San Juan Basin.”
In addition to making the investment in Whiptail Midstream, GE will collaborate with I Squared Capital to invest in other near-term opportunities for oil and gas infrastructure in the basin.
About I Squared Capital: I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, and transport in North America, Europe, and select high growth economies. The Firm has offices in New York, Houston, London, New Delhi, Hong Kong and Singapore.
I Squared Capital
Andreas Moon, 212-339-5339
Managing Director and Head of Investor Relations
Information om Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Følg pressemeddelelser fra Business Wire
Skriv dig op her og modtag pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Business Wire
NJ-WIPRO-LIMITED21.6.2018 15:24 | pressemeddelelse
Wipro Positioned as a Leader in Gartner’s Magic Quadrant 2018 for Oracle Application Services, Worldwide
SEOUL-SEMICONDUCTOR21.6.2018 15:02 | pressemeddelelse
Seoul Semiconductor Captures the Home Lighting Market with Its Innovative LED SunLike Technology
ANT-FINANCIAL-SERVICES21.6.2018 14:58 | pressemeddelelse
MYbank Launches Star Plan to Support 1,000 Financial Institutions to Serve 30 Million SMEs in the Next Three Years
IFA21.6.2018 14:30 | pressemeddelelse
IFA 2018 : LG CEO and CTO to Outline Ambitious Strategy for ThinQ AI at IFA Opening Keynote
SERVIER21.6.2018 13:12 | pressemeddelelse
Servier and Taiho Announce Phase III Trial Data Demonstrates Significant Overall Survival Benefit of LONSURF® (trifluridine and tipiracil) in Patients with Metastatic Gastric Cancer
SIMSCALE21.6.2018 12:51 | pressemeddelelse
SimScale Announces a Preview Program of FDS for Simulation of Fire Scenarios in Buildings
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum