Morgan Stanley Energy Partners and Durango Midstream Announce Strategic Partnership
November 21 2017 - 9:30AM
Business Wire
Investment funds managed by Morgan Stanley Energy Partners
(collectively, “MSEP”), part of Morgan Stanley Investment
Management, and Houston, Texas-based Durango Investment Holdings
LLC (“Durango Midstream” or the “Company”) announced today a
strategic partnership whereby MSEP has made a majority equity
investment in Durango Midstream to support the growth of the
Company’s midstream businesses in the Midcontinent region of the
United States. Terms of the transaction were not disclosed.
Durango Midstream is a leading natural gas gathering, processing
and marketing company providing world-class midstream services to
oil and gas producers in Texas, Oklahoma, and Kansas. The
partnership with MSEP provides the Company with additional
resources to upgrade and expand Durango Midstream’s existing asset
base and capabilities. The Company’s initial growth projects are
expected to focus on expansion of its gathering and processing
system in Grady County, Oklahoma to support producers active in the
rapidly growing Merge-SCOOP-STACK plays of Central Oklahoma.
Robert Lee, Managing Director of Morgan Stanley Energy Partners,
said, “We are delighted to partner with Durango Midstream – given
its exceptional team, strategic asset base and the attractive
opportunities presented by nearby oil and gas activity, the
business is uniquely positioned for growth.”
Durango Midstream is led by Richard A. Cargile, President and
Chief Executive Officer. Mr. Cargile has decades of operating
experience in the midstream business. He most recently served as
President of Midstream Operations at Energy Transfer Partners, L.P.
Mr. Cargile said, “We are excited about our strategic partnership
with Morgan Stanley Energy Partners. Their global network and
sterling reputation and their history of success in the energy
business will help us accelerate our growth plans in the
Midcontinent and expand into other leading oil and gas basins in
the United States. We look forward to supporting our current and
future customers with additional midstream infrastructure and
world-class service.”
John Moon, Managing Director and Head of Morgan Stanley Energy
Partners, added, “Morgan Stanley Energy Partners always seeks to
partner with leaders in the field, and Rick and the Durango team
exemplify best in class management. We look forward to shared
success in the years to come.”
About Durango MidstreamHeadquartered in Houston, Texas, Durango
Midstream is a leading natural gas gathering, processing, and
marketing company providing world-class midstream services to oil
and gas producers in Texas, Oklahoma, and Kansas. For further
information about Durango Midstream, please contact
info@durangomidstream.com.
About Morgan Stanley Energy PartnersMorgan Stanley Energy
Partners, the energy-focused private equity business of Morgan
Stanley Investment Management, is a leading energy private equity
platform that makes privately negotiated equity and equity-related
investments in energy companies located primarily in North America.
Morgan Stanley Energy Partners pursues a differentiated investment
strategy, focused on the buyout and build-up of strategically
attractive, established energy businesses across the energy value
chain in partnership with world-class management teams. For further
information about Morgan Stanley Energy Partners, please visit
www.morganstanley.com/im/en-us/capital-seeker/teams/private-equity/energy-partners-team.html.
About Morgan Stanley Investment ManagementMorgan Stanley
Investment Management, together with its investment advisory
affiliates, has more than 600 investment professionals around the
world and $447 billion in assets under management or supervision as
of September 30, 2017. Morgan Stanley Investment Management strives
to provide outstanding long-term investment performance, service,
and a comprehensive suite of investment management solutions to a
diverse client base, which includes governments, institutions,
corporations, and individuals worldwide. For further information
about Morgan Stanley Investment Management, please visit
www.morganstanley.com/im.
About Morgan StanleyMorgan Stanley (NYSE: MS) is a leading
global financial services firm providing investment banking,
securities, wealth management and investment management services.
With offices in more than 42 countries, the Firm's employees serve
clients worldwide including corporations, governments, institutions
and individuals. For more information about Morgan Stanley, please
visit www.morganstanley.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20171121005191/en/
Media Relations:Morgan Stanley Energy PartnersLauren Bellmare,
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