Bluewing Midstream LLC said Sept. 23 it has secured an initial equity commitment of $100 million from Energy Spectrum Partners VII LP.

The Houston company said it plans to use the capital to acquire and develop oil and gas terminaling and transportation assets. The company, which was formed in July, will have an initial focus on the Gulf Coast.

“The U.S. Gulf Coast terminaling and transportation space represents a unique opportunity in the current energy market,” said Tom Reid, president of Bluewing, in a statement.

The company will begin by pursuing strategic acquisitions, as well as contracted greenfield projects, along the Texas and Louisiana coastal waterways.

"We intend to build a successful company based on value creation, transparency, and strategic partnerships," he said.

The Bluewing team has demonstrated a successful track record of operating together in oil and gas, according to the release.

Reid leads the team with more than 20 years of energy industry expertise and has extensive experience leading private and public organizations. Founding partners also include Amanda Luckey, as vice president of commercial operations, and Leonard Waguespack, as vice president of midstream operations.

Bluewing Midstream was advised by Vinson & Elkins. Energy Spectrum was advised by Jackson Walker LLP.