Delta Midstream Receives Initial Investments from Funds Affiliated With Warburg Pincus

Delta Midstream, LLC, a Houston, TX – based newly formed midstream company, received an initial investments from funds affiliated with Warburg Pincus.

The amount of the deal was not disclosed.

Delta seeks to acquire, develop, and operate midstream assets of scale and will target opportunities across multiple basins in North America. The firm will pursue a strategy of acquiring midstream assets within both private and public ownership structures across the hydrocarbon value chain including natural gas, natural gas liquids, and crude oil operations. Delta’s focus is on assets of scale with integration opportunities that can be optimized through the management team’s transaction, commercial, and operational expertise.

Its senior management team has extensive leadership, operational and transaction experience across the midstream and upstream oil and gas sectors, with a track-record of significant value creation.

Led by the former executive management team of Noble Midstream Partners, including CEO Terry Gerhart, CFO John F. Bookout IV and COO John Nicholson, each of whom will serve in similar capacities at Delta. Matt Slatnick, former VP of Corporate Development at Noble Midstream, and Nick Alfermann, a former senior member of the energy investment banking team at Baird, also join Delta as founding partners. While at Noble Midstream, the team deployed significant growth capital at attractive rates of return and expanded the company from a largely single-producer midstream system at IPO in 2016 to a multi-customer, multi-basin enterprise of scale at the time of their departure in 2019. Collectively, Delta’s founding partners have in excess of 90 years of energy industry experience and $20 billion in transactional experience across the energy value chain as well as deep experience servicing energy customers and operating midstream assets.

FinSMEs

19/03/2020

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