Private-equity firm Five Point Capital Partners LLC funded Redwood Midstream Partners LLC with a $75 million equity commitment, Five Point said Feb. 19.
Redwood will focus the fund on developing and expanding infrastructure for oil and natural gas producers working in shale, Five Point said.
Marty Patterson, president of Redwood, said, "I am excited to partner with a great team of midstream investors who truly understand the energy infrastructure space, its changing landscape and the opportunity to provide producers with timely solutions and competitive economics."
"Redwood will develop service oriented partnerships to provide infrastructure in a collaborative and transparent process. With Five Point’s depth of capital and Redwood’s strategy to provide superior service, I’m excited about our future,” he added.
Matt Morrow, a partner at Five Point, added, "We look forward to partnering with Marty and his team to take advantage of the unprecedented need for new energy infrastructure to support emerging shale regions, particularly within the first 25 miles of the wellhead."
"Our analysis indicates that these needs are substantial and are not sufficiently being met for mid-sized and small independent producers. Redwood Midstream is well positioned to capitalize on this market opportunity," he added.
Redwood Midstream Partners is based in Houston.
Five Point Capital Partners, also based in Houston, assists the midstream energy sector.
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