Align Midstream Partners, Elevate Midstream Partners Combine East Texas Assets
Align Midstream Partners (Align) and Elevate Midstream Partners (Elevate) have announced the combination of their respective East Texas asset bases.
Align is a Dallas-based midstream company focused on servicing producers’ gathering and treatment needs in East Texas while Elevate is a full-service provider of value-enhancing midstream solutions headquartered in Houston.
Both companies are backed by Tailwater Capital (Tailwater), an energy-focused private equity firm based in Dallas.
Effective immediately, Align, will assume operatorship of the combined asset base, which adds more than 180 miles of active pipeline to its existing footprint across Panola, Rusk, and Harrison Counties.
With an average daily volume of more than 300 million cubic feet per day (MMcfd), the combination provides Align with added processing and compression capabilities.
Once the transaction closes, Roger Fox and the management team of Elevate Midstream Partners will create Elevate Midstream Partners II with a $150 million equity commitment from Tailwater to further capitalize on midstream asset acquisitions and greenfield buildout opportunities.
Jason Downie, Co-Founder and Managing Partner of Tailwater Capital said the combination will “…position Elevate to execute on midstream opportunities in what we believe to be an attractive market.”
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