Stonepeak Infrastructure Partners makes $500mm equity commitment in Sage Midstream Ventures
Sage Midstream Ventures recently announced that it has received an equity commitment of up to US$500 million from Stonepeak Infrastructure Partners, a private equity firm focused on infrastructure investments in the energy, power & renewables, transportation, utilities, water and communications sectors, to pursue midstream acquisition and development opportunities throughout North America's energy industry.
Headquartered in Houston, Texas, Sage is led by President Greg Bowles, Vice President of Business Development John Steen, Vice President of Engineering and Operations Nick Cocavessis, and Vice President of Finance Vlad Klenikov. Mr. Bowles was previously Executive Vice President of Lone Star NGL, a division of Energy Transfer Partners, L.P., where he was responsible for all commercial operations and development.
Sage will pursue acquisition and development opportunities across the hydrocarbon value chain, including natural gas, natural gas liquids, crude oil, petrochemicals and refined products, with a broad focus on transportation, processing, fractionation, storage and marketing services.
Mr. Bowles said:
"We are thrilled to have partnered with Stonepeak to pursue energy infrastructure projects and believe there is a tremendous amount of opportunity in today's energy markets. We look forward to leveraging our combined expertise and resources to create a significant asset footprint that enables us to provide outstanding service to domestic and international producers and consumers of energy products."
Michael Dorrell, Senior Managing Director and co-founder of Stonepeak, added:
"The Sage management team has extensive experience across the oil & gas midstream sector and we are delighted to partner with them as they pursue investments in North American energy infrastructure. We believe the current market environment will present a wide range of opportunities for Sage and we look forward to a successful long term partnership."
Country news
-
-
April 22, 2016
Exelon Generation and RES announce 10 MW Battery Storage Project
Exelon Generation and Renewable Energy Systems (RES) announced the development of a 10 MW battery storage facility in Clinton County, Ohio. Exelon Generation is the storage facility owner and operator, and RES is the project developer and constructor. Read more -
April 21, 2016
Talen Energy (TLN) sells two hydroelectric plants for $860M
Talen Energy Corporation sold two hydroelectric power plants to a subsidiary of Brookfield Renewable Energy Partners L.P. The total value of the transaction reached US$860 million. Read more -
April 21, 2016
SunEdison files for bankruptcy protection under chapter 11
SunEdison and certain of its domestic and international subsidiaries have filed voluntary petitions for reorganization under chapter 11 of the U.S. Bankruptcy Code in the Bankruptcy Court for the Southern District of New York. Read more -
April 21, 2016
Tenaska closes $780 M financing for natural gas-fueled power plant in Pennsylvania
Independent energy provider Tenaska closed approximately $780 million in commercial financing for the 925 MW natural gas-fueled power plant Tenaska Westmoreland Generating Station. Read more -
April 20, 2016
Mitsubishi Corporation and Tenaska to develop 925 MW gas-fired plant in Pennsylvania
Mitsubishi Corporation (MC) has recently reached an agreement with US-based independent energy company, Tenaska, to develop, own and operate a natural gas-fired power generation project in Pennsylvania in the USA. Read more
