With an initial capital commitment of $400 million, freshman startup Edgewater Midstream is now all systems go to kick off 2020 with a big investment. Formed in late 2019 and backed by EnCap Flatrock Midstream, Houston-based Edgewater joins a host of other EnCap portfolio companies that acquire, build and develop oil and natural gas infrastructure systems. In this case, Edgewater looks to stake its claim in crude and refined products pipelines and terminals located near the nation’s major trading hubs and demand centers. Led by oil and gas veterans Stephen Smith, Brian Thomason and Mike Truby, Edgewater Midstream just might have its pick of assets to choose from this year. RMR looks forward to seeing where they land.
Edgewater was formed in late 2019 to provide independent midstream solutions to refiners, producers and marketers of crude oil, refined products and other bulk liquids. Based in Houston, the company is focused on the acquisition, development and operation of pipeline and terminal solutions between and in proximity to major North American petroleum trading hubs and demand centers.
Formed in late 2019, Tumbleweed Midstream, LLC is focused on the operation and growth of its Ladder Creek Helium Plant and Gathering System, which serves producers in eastern Colorado and western Kansas.
Next up we introduce to you Tumbleweed Midstream—which knows exactly where it’s setting up house and sliding into the new year with a great story to boot. The Colo.-based company formed late last year announced today it has acquired the Ladder Creek Helium Plant and Gathering System from DCP Midstream previously owned by Union Pacific Resources. Located near the Colo.-Kan., border, Ladder Creek serves natural gas producers in both states where supplies there contain a high helium content that must be separated from the gas stream and liquified to transport to market. Now, for the story. In the late 1990s, Tumbleweed CEO Durell Johnson worked for Union Pacific where he served as project engineer of Ladder Creek until it was sold to DCP. Coincidence? We don’t think so, but betting he knows this plant inside and out.
Congratulations and welcome aboard.
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