NEW YORK, Aug. 2, 2017 /PRNewswire/ -- Mainline Midstream, LLC, wholly owned by Riverstone Holdings and managed by Mainline Energy Partners, LLC ("Mainline Energy") today announced the acquisition of more than 1,000 miles of oil and gas pipeline and rights of way ("ROW") in the SCOOP/STACK/MERGE resource play in Oklahoma.
Mainline Energy, a portfolio company of Riverstone Holdings, plans to utilize the ROW to support the development of oil and gas gathering, transport, storage, stabilization and processing facilities in the prolific SCOOP/STACK/MERGE basin.
Mainline Energy's team, led by William Shea, Mark Casaday, Rob Wallace and Art Cantrell, has over 90 years of combined experience developing and operating infrastructure assets for the oil and gas industry. The team's prior experience includes Buckeye Partners, PVR Partners, Niska Gas Storage, Energy Transfer Partners, Equitable Resources and Pentex.
"We are excited to be working together with Riverstone again on this acquisition and development effort," said William Shea. "We have enjoyed a long successful relationship since 2004 and are pleased to partner with Riverstone. The SCOOP/STACK/MERGE play is economically attractive, and our strategy is to develop infrastructure in the play, providing outlet optionality and allowing producers to focus on the drill bit and invest their capital efficiently."
"Riverstone has invested more than $600 million in two companies Bill has led, and he most recently helped manage our exit from Niska Gas Storage Partners. We are pleased to partner with the Mainline team in the SCOOP/STACK/MERGE play. It is a focus area for us, and we are excited to deploy additional capital," said Bartow Jones, Partner at Riverstone Holdings.
About Mainline Energy
Mainline Energy is an experienced, producer-focused, energy company formed in 2015 and focused on developing and managing midstream assets across North America. Mainline works with producers on a collaborative basis to develop the infrastructure necessary to insure that producer's development plans are successfully executed.
About Riverstone Holdings
Riverstone is an energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with approximately $36 billion of capital raised. Riverstone conducts buyout and growth capital investments in the E&P, midstream, oilfield services, power, and renewable sectors of the energy industry. With offices in New York, London, Houston, and Mexico City, Riverstone has committed over $35 billion to more than 130 investments in North America, South America, Europe, Africa, Asia, and Australia.
For Mainline Energy:
Robert B. Wallace
Jeffrey Taufield or Daniel Yunger
Kekst and Company
SOURCE Riverstone Holdings