Tag Archives: midstream

EIV Capital and partners commit $100 mln to H2O Midstream – PE HUB

H2O Midstream, LLC announced today that it has secured an initial funding commitment of $100 million, with investments from EIV Capital and co-investments from several of EIV’s institutional partners collectively representing more than $50 billion in assets under management. The company is currently pursuing oil and gas opportunities related to water infrastructure throughout North America.“We see a tremendous opportunity to help the industry lower costs, increase reliability, and improve safety performance while allowing producers to focus on core drilling, completions, and production operations,” said Jim Summers, Chief Executive Officer of H2O Midstream. “The key is applying best practices developed over the past 40 years by traditional midstream companies to the current challenges of the emerging water market.”

Source: EIV Capital and partners commit $100 mln to H2O Midstream – PE HUB

RPT-Sabine Oil wins pipeline ruling in a blow to pipeline operators | Reuters

Sabine Oil & Gas Corp won a key court ruling on Tuesday that will allow the bankrupt energy producer to shed certain pipeline contracts, potentially exposing companies that transport and process gas to the crisis in the energy industry.The ruling by New York’s influential bankruptcy court is the first major test whether Chapter 11 can be used to end a contract with companies in what is known as the midstream sector of the energy industry.

Source: RPT-Sabine Oil wins pipeline ruling in a blow to pipeline operators | Reuters

Energy Transfer’s ex-CFO reportedly sought to undo Williams Cos. merger deal

In late January, about 40 Wall Street financiers packed into a private dining room at III Forks Steakhouse in Houston for an update on the troubled multibillion-dollar merger of pipeline companies Energy Transfer Equity and the Williams Cos. With shares of Dallas-based Energy Transfer down 50 percent since the transaction was announced in September, the investors interrogated Energy Transfer’s chief financial officer, Jamie Welch. He tried to assuage analysts and investors, assuring them that his company was committed to closing the deal.Less than 10 days later, Energy Transfer fired Welch.Welch’s ouster stunned most investors, causing Energy Transfer’s stock to drop 42 percent in one day, but not everyone was surprised. Since December, Welch, a former investment banker who helped sculpt the $38 billion acquisition, had been actively trying to recut the deal or get out of it entirely.In recent months, Welch has called Williams shareholders, urging them to push the board to reconfigure the deal or vote against it, according to interviews with five shareholders who requested anonymity because they were not authorized to discuss the private conversations.Welch argued that the deal’s terms, a mix of stock and a sizable $6 billion cash payout to Williams shareholders, would crush the combined new company under a mountain of debt. In one call, a shareholder said, Welch referred to the cash payout as “mutually assured destruction.”

Source: Energy Transfer’s ex-CFO reportedly sought to undo Williams Cos. merger deal | | Dallas Morning News