Ironwood Midstream Energy Partners’ latest North American strategy has received investment from an energy infrastructure firm managed by Kayne Anderson Capital Advisors.
Ironwood Midstream Energy Partners III said it has secured a “substantial equity commitment” from Kayne Anderson Energy Infrastructure Fund (KYN).
Ironwood III operates as an independent energy company focused on the development, acquisition and management of midstream infrastructure for oil and natural gas.
Following the equity commitment, Ironwood Midstream III has acquired a crude oil gathering system in the Eagle Ford Shale. The system includes over 50 miles of pipelines, nearly 50,000 dedicated acres under long-term agreements, and two storage terminals totaling over 18,000 barrels in capacity.
Mike Williams, CEO of Ironwood III, said: “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.”
Justin Johnson, president of Ironwood III, said: “We are excited about this strategic acquisition in the Eagle Ford, which positions Ironwood III in a region where we have extensive knowledge, experience, and a proven track record of success.”
Jim Baker, president and CEO of KYN, said: “We are excited to partner with the Ironwood III team and work alongside an industry veteran like Mike. 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.”
Ron Logan, executive vice president of KYN, said: “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.”
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