In RMR’s continuing series The Money Backers, we give readers a glimpse of who’s who and who owns what in energy’s private equity world. From the largest to the smallest to the newest, we look especially at those firms making hay in the midstream industry to provide the capital infusion required to give growth projects liftoff.
Houston-based EIV Capital hedges its investment bets on energy startups with a solid track record of successfully managing previous ventures during industry upturns and downturns. This small private-equity firm focuses predominantly on players in the midstream sector with investments between $20-$80 million.
EIV Capital is a private equity firm based in Houston, Texas, specializing in the energy industry. EIV focuses on the midstream and downstream segments of the market. EIV Capital is an investor-centric private equity firm, with diverse team experience. We provide valuable, practical solutions and advice based on our operational and financial experience and aim to be a true partner to all stakeholders.
Here’s a look at EIV’s current midstream portfolio:
- Based in Dallas, Canes Midstream is EIV’s most recent newcomer. Formed in late 2019, Canes looks to acquire oil and gas infrastructure and develop greenfield midstream projects in high-performing basins.
- Formed in April 2019, Ga.-based Summit Terminaling has its eye on constructing and operating bulk liquid terminal storage in underserved areas across the U.S.
- EIV Capital also birthed Woodland Midstream II in 2019. Calling The Woodlands, Texas, home, this second iteration targets opportunities in the Permian and Arkoma basins and the Western Gulf Coast and ARK-LA-TEX areas. The company acquired last October the James Lake System, which serves producers in the Permian. Assets include a fully integrated sour gas gathering, treating, and processing system with 230 miles of pipeline, 110 MMCFD of processing capacity, and 35,000 HP of owned compression.
- With initial funding of $75 million in 2018, Houston-based Bayou Midstream operates a crude oil gathering system in the Bakken with a strategy to build or acquire additional assets in both the Williston and Powder River basins.
- Back in 2016, EIV committed $100 million in equity financing to Houston-based startup H2O Midstream. One year later, H2O acquired Encana’s produced water infrastructure in the Permian with assets that included more than 100 miles of interconnected pipelines and five saltwater disposal wells with 80,000 BPD of disposal capacity. H2O in 2019 then picked up Sabalo Energy’s water system, which was already connected to Ecana’s, bringing combined disposal capacity in the Midland and Delaware to 560,000 BPD. EIV has since increased its financial backing to enable H2O Midstream’s further growth in the Permian, where the company owns and operates the first third-party, truckless produced water hub.
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