Five Point Capital Partners has invested $75 million in Redwood Midstream Partners, which will provide midstream infrastructure solutions to oil and gas producers. Redwood is led by Marty Patterson, a founding management team member at America Midstream Partners.
On February 19, 2014, Redwood Midstream Partners, LLC (“Redwood”) and Five Point Capital Partners LLC (“Five Point”) announced the funding of Redwood with a $75 million equity commitment from Five Point. The Houston-based Redwood will seek to provide midstream infrastructure solutions to underserved oil and gas producers. Redwood will focus on the development, expansion and optimization of midstream energy infrastructure for small to mid-sized producers in emerging shale producing regions.
Redwood is led by Marty Patterson, a midstream energy veteran with more than 30 years of industry experience. Prior to founding Redwood, Mr. Patterson was a member of the founding management team at American Midstream Partners. At American Midstream, Mr. Patterson was responsible for the development, integration and optimization of midstream operations across the Gulf Coast. Prior to American Midstream, Mr. Patterson held various senior commercial, development, and operational roles at Foothills Energy Development, IDACORP Energy, and Cabot Oil and Gas.
Marty Patterson, President of Redwood, said, “I am excited to partner with a great team of midstream investors who truly understand the energy infrastructure space, its changing landscape and the opportunity to provide producers with timely solutions and competitive economics. Redwood will develop service oriented partnerships to provide infrastructure in a collaborative and transparent process. With Five Point’s depth of capital and Redwood’s strategy to provide superior service, I’m excited about our future.”
Matt Morrow, a Partner of Five Point, added, “We look forward to partnering with Marty and his team to take advantage of the unprecedented need for new energy infrastructure to support emerging shale regions, particularly within the first 25 miles of the wellhead. Our analysis indicates that these needs are substantial and are not sufficiently being met for mid-sized and small independent producers. Redwood Midstream is well positioned to capitalize on this market opportunity.”
Redwood Midstream Partners, LLC is a growth oriented development company focused on acquiring, developing, operating and optimizing crude oil, natural gas liquids and natural gas infrastructure throughout North America. Headquartered in Houston, Texas, Redwood Midstream seeks to build lasting partnerships with its upstream customers by creating unique infrastructure solutions tailored to the specific needs of each producer. Redwood was founded in 2013 by Marty Patterson and Five Point Capital Partners. For further information, please visit www.RedwoodMidstream.com.
About Five Point
Five Point Capital Partners is a private equity firm focused on midstream energy infrastructure and energy sector investments across North America. Five Point’s investment strategy is to partner with, develop and support strong management teams through buyouts and growth capital investments within the midstream energy sector. Five Point was founded in 2011 and is based in Houston, Texas. For further information, please visit www.FivePointCP.com.