Morgan Stanley Energy Partners and XRI Blue Announce Strategic Partnership
August 23 2016 - 11:00AM
Business Wire
Investment funds managed by Morgan Stanley Energy Partners
(collectively, “MSEP”), part of Morgan Stanley Investment
Management, and Midland, TX-based XRI Holdings, LLC (“XRI Blue” or
the “Company”), an affiliate of Entia Ventures, announced today a
strategic partnership whereby MSEP has made a majority equity
investment in XRI Blue to support the growth of XRI Blue’s
successful midstream services business in the Permian Basin. Terms
of the transaction were not disclosed.
XRI Blue is a leading water supply and pipeline transportation
company providing world class water logistic solutions to upstream
oil and gas producers in the Permian Basin of West Texas and New
Mexico. The partnership with MSEP provides the Company with
additional resources to accelerate the expansion of XRI Blue’s
asset base, capabilities and portfolio of services offered to its
customers.
XRI Blue’s senior management team, including Matthew Gabriel,
Christopher Harich and Christopher Downs, has significant technical
and operational water resource management experience and will
continue to serve as the senior leadership team of the Company.
Matthew Gabriel, Co-Founder and Chief Executive Officer of XRI
Blue, said, “We are very excited about this partnership and view
Morgan Stanley Energy Partners as the ideal partner to support our
long-term strategic plan to expand our existing asset base and
provide best-in-class, environmentally-responsible water sourcing,
water transportation and disposal solutions to our customers.”
John Moon, Managing Director and Head of Morgan Stanley Energy
Partners, said, “We are pleased to be able to partner with XRI Blue
to grow the Company into a leader in the water resource management
industry. This is an extraordinary opportunity for us to invest
alongside an exceptionally capable management team and in a company
with a compelling value proposition that leverages an existing,
highly differentiated asset base in one of North America’s most
attractive oil and gas basins.”
BofA Merrill Lynch acted as XRI Blue’s financial advisor in
connection with this transaction.
About XRI Blue
Headquartered in Midland, Texas, XRI Blue is a leading water
resource management company engaged in the sourcing, production,
transportation, storage, and sale of water for use in the upstream
exploration & production industry. For further information
about XRI Blue, please visit www.xriblue.com.
About Entia Ventures
Entia Ventures (“Entia”) is a closely held portfolio spanning
multiple sectors, including defense and security, energy services,
telecommunications and industrials. Entia aims to cultivate new
starts using applied science to create innovative technology, novel
approaches to commodity markets and technical industrial
assets.
About Morgan Stanley Energy Partners
Morgan 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.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its
investment advisory affiliates, has more than 590 investment
professionals around the world and $406 billion in assets under
management or supervision as of June 30, 2016. 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.
About Morgan Stanley
Morgan 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 43
countries, the Firm's employees serve clients worldwide including
corporations, governments, institutions and individuals. For
further information about Morgan Stanley, please visit
www.morganstanley.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160823005404/en/
Morgan Stanleyprivate.equity@morganstanley.com
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Sep 2023 to Sep 2024