Valiant Midstream said July 27 it received a $150 million commitment from Dallas-based energy private equity firm Tailwater Capital to target Oklahoma's Scoop and Stack infrastructure needs.
Valiant Midstream, headquartered in Oklahoma City, is focused on providing innovation, energy and results to midstream customers in the Midcontinent and across North America. The company's services include gas gathering, processing, treating and compression, crude oil gathering, storage and transportation, condensate stabilization/splitting, produced water gathering and redelivery and commodity marketing.
Valiant is led by Brandon J. Webster as president and CEO, Chad B. Cagle as COO and Zach N. Gray as CFO. Collectively, the team has a proven track record, playing key roles in more than $4 billion in midstream projects and transactions, according to the company release.
In addition, Valiant's management team has experience and success originating projects and acquisitions as well as managing, constructing and operating assets in the Midcontinent, Permian Basin, Rockies, Bakken and Haynesville, the release said.
Webster said that despite the company's readiness to pursue opportunities in all U.S. basins, Valiant plans to initially target the Midcontinent due to projected activity in the Scoop and Stack shale plays.
“The growth in the Scoop and Stack have revitalized our state and we expect production to hit record levels,” Webster said in a statement. “With more than 130 rigs deployed in the state, we know Oklahoma is primed for growth and Valiant is here to serve the producers who invest here.”
Valiant Midstream was represented by Connor & Winters, LLP’s Tulsa, Okla. office. Partner J. Ryan Sacra served as lead advisor to Valiant. Thompson & Knight LLP advised Tailwater Capital, with J. Holt Foster III as lead counsel from the firm’s Dallas office.
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