Ironwood Midstream Acquires Strategic Crude Oil Gathering System Located in Eagle Ford Shale
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Ironwood Midstream Energy Partners has secured a substantial equity commitment from Kayne Anderson Energy Infrastructure Fund (KYN).
In conjunction with the equity commitment, Ironwood has acquired a crude oil gathering system strategically located across Atascosa, Frio, La Salle, and McMullen counties in the Eagle Ford Shale. The new asset footprint includes more than 50 miles of crude oil gathering pipelines with long-term, fee-based agreements for almost 50,000 dedicated acres. The system also includes two storage terminals with a combined capacity of over 18,000 barrels.
Led by industry veteran Mike Williams, Ironwood has a long-term operating strategy, focused on the acquisition, development, and operation of top-tier midstream assets in the most economic and desirable oil and gas producing regions in the United States.
“With our deep operational expertise, strong industry relationships, and the support of a strong financial partner like KYN, we are uniquely positioned for sustainable, long-term growth,” said Mike Williams, CEO of Ironwood.
“We are excited about this strategic acquisition in the Eagle Ford, which positions Ironwood in a region where we have extensive knowledge, experience, and a proven track record of success,” said Justin Johnson, president of Ironwood.
“We are excited to partner with the Ironwood team and work alongside an industry veteran like Mike,” said Jim Baker, president and CEO of KYN.
“This team has earned a strong reputation in the energy industry, and KYN, with its size and long-term capital base, is well positioned to help the Ironwood team execute its strategy,” added Baker.
“We share a similar vision with the Ironwood team and look forward to partnering with them to create a sizable midstream platform. This is a highly talented group of industry veterans with a track record of successfully developing midstream infrastructure projects,” said Ron Logan, executive vice president of KYN.
Headquartered in San Antonio, Ironwood Midstream is an independent energy company specializing in the development, acquisition, and management of oil and natural gas midstream infrastructure across North America. Led by a team of experienced industry professionals, the company is backed by Kayne Anderson Energy Infrastructure Fund.
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