[Context: On February 11, Old Ironsides Energy announced an investment in Longhorn Midstream. Management hails from Discovery Midstream and Brazos Midstream—and presumably are not Texas A&M alums. Further details, advisors and related links are below.]
Longhorn Midstream And Old Ironsides Energy Partner To Pursue Midstream Oil & Gas Opportunities
DALLAS, Feb. 11, 2019 /PRNewswire/ — Longhorn Midstream Holdings, LLC (“Longhorn”), a newly-formed midstream oil and gas company, announced today that it has partnered with Old Ironsides Energy, LLC (“Old Ironsides”), a private oil and gas investment firm. Based in Dallas, Texas, Longhorn will pursue midstream development and acquisition opportunities throughout the United States. Longhorn’s management team has decades of experience successfully developing and acquiring midstream assets across all commodities in many U.S. producing regions including the Midland Basin, Ark-La-Tex, the Mid-Continent, and most recently the Denver-Julesburg and Delaware Basins.
Mike Davis, Managing Partner & President of Longhorn, was most recently co-founder and Chairman of Discovery Midstream until its sale for $1.2 billion in August 2018. Elliot Gerson, Managing Partner & Chief Financial Officer of Longhorn, was most recently Vice President, Finance at Brazos Midstream until its sale for $1.75 billion in May 2018. Julie Hartmann, Longhorn’s Chief Accounting Officer, most recently worked alongside Mr. Davis as Chief Accounting Officer and partner of Discovery Midstream.
Mike Davis said, “The extended Longhorn team has proven our ability to cost-effectively and reliably provide integrated midstream services to our producer clients. We recognize that execution and safety is key in this business, and the construction teams and field personnel that have been with us from the beginning are the best in the industry.”
Elliot Gerson added, “We believe that our management team’s track record and existing industry relationships in concert with a sector that will continue to require creative infrastructure solutions provide Longhorn with a compelling opportunity to create value for our partners and customers.”
“Old Ironsides has successfully partnered with members of the Longhorn team across multiple ventures since 2009. We are thrilled to form another company around this impressive group to continue pursuing their proven midstream strategy,” said Sean O’Neill, a Managing Partner at Old Ironsides Energy.
Kirkland & Ellis LLP served as legal counsel to the Longhorn management team. Thompson & Knight LLP served as legal counsel to Old Ironsides.
About Longhorn Midstream
Longhorn Midstream Holdings, LLC is a newly-formed midstream oil and gas company based in Dallas, Texas. Longhorn is focused on operational excellence and creative solutions for its producer partners across all commodities in the United States.
About Old Ironsides Energy
Old Ironsides Energy, LLC is an independent oil and gas investment firm that has built a platform for investing in private equity and drilling joint ventures, and has a history of creating value in the energy business.