Tough and enduring, the Ironwood tree thrives in parched desert habitats, rising high above the scrub and shrub that scatter about the Texas plains. That description alone is one reason four years ago Mike Williams elected to name his new company Ironwood Midstream Energy.
Ironwood Midstream Energy Partners
Ironwood Midstream was formed in 2015 to provide oil and gas producers with best in class service and access to premium markets. We design, build and operate tailored pipeline projects, currently in the Permian Basin and the Eagle Ford Shale.
The “strength, growth and grit” CEO Williams first assigned to his business continue to define Ironwood’s midstream niche today—keep assets manageable and flexible, acquire them in producer-hungry environs, and don’t look sideways from Texas.
Sounds like a plan.
RMR today is following news this week from San Antonio, Texas-based Ironwood Midstream Energy, which just announced the formation of Ironwood Midstream Energy Partners II—along with an influx of $400 million in capital and a binding agreement to purchase the South Texas midstream assets of Twin Eagle Gardendale Pipeline, LLC. Those assets include two gathering systems with a combined 137 miles of crude oil pipeline extending from the Eagle Ford to Gulf Coast-bound connections. The deal is expected to close in December.
Ironwood Midstream operates 100 miles of crude oil and natural gas gathering pipelines in the Eagle Ford and Gonzales Co., Texas. Its South Texas operations include three natural gas gathering lines and two crude oil gathering lines with combined capacities of 310,000 MCFPD and 180 BPD, respectively. The company’s West Texas operations include a crude oil gathering system with a throughput capacity of 40,000 BPD.
Looks like this Ironwood tree has found its roots.
What do you think?