Camelback Midstream Holdings has received a capital commitment of $400 million from an ArcLight Capital Partners managed fund and the Camelback Midstream management team. The company focuses on acquiring and developing midstream infrastructure, including gathering, transportation, storage and marketing.
Camelback Midstream is led by its CEO, Brent McCune, and its management team comprised of Gary Wright, Todd Stanley, Tiffany Smith, Leonard Bloom and Rebecca Peterson. Prior to forming Camelback, the team worked together at Western Refining, and then continued with Andeavor following the Western-Andeavor merger. The team has more than 110 years of combined energy industry experience.
"We look forward to building Camelback Midstream with a focus on targeted regions where we see opportunity and have strong relationships and a history of success," said McCune. "We are excited to have an experienced infrastructure investor like ArcLight as our partner as we evaluate potential acquisition and investment opportunities in this rapidly evolving midstream landscape."
"We are extremely pleased to be partnering with the Camelback Midstream team, particularly in today's market," said Dan Revers, ArcLight's founder and managing partner. "We look forward to supporting the Camelback Midstream team as they pursue opportunities in what we believe will be a compelling acquisition environment for newly-formed, well-capitalized midstream companies."
To contact the author, email bertie.taylor@rigzone.com.
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