EIV Capital has made a $40 million investment to launch Woodland Midstream LLC. Headquartered in The Woodlands, Texas, Woodland is a gas midstream company focused on acquiring and developing natural gas liquids infrastructure throughout Texas and its neighboring states.
HOUSTON, TX–(Marketwired – May 12, 2015) – EIV Capital announced today the completion of its $40 million investment commitment to form Woodland Midstream, LLC (“Woodland”), an independent natural gas midstream company. The investment will fund the build-out and acquisition of natural gas pipeline and processing infrastructure throughout the eastern region of Texas and bordering states.
Woodland plans to leverage its management’s successful track record in operating, commercializing and optimizing midstream assets. Woodland is led by Richard Wright and Curtis Stevens, midstream energy veterans with more than 45 years of combined industry experience. Prior to founding Woodland, Mr. Wright and Mr. Stevens worked together for over ten years at Azure Midstream and its predecessors; holding various roles including overall responsibility and leadership for business development and gas supply initiatives and the development and optimization of gathering, compression, treating and processing operations, respectively. Both were critical members of the team focused on Azure’s East Texas growth and acquisition strategy, growing to over 700 miles of pipeline and associated facilities serving customers across East Texas and North Louisiana.
Richard Wright, President of Woodland, said, “We look forward to working with a proven capital provider who has extensive experience both investing in and operating companies in the midstream space as we continue to develop our transparent, service based partnerships with independents in the region. We believe our experience and size will allow us to be competitive on pricing, timing and level of engagement with our customers.”
“We are excited to partner with a set of industry veterans, with proven success, to develop a leading gas infrastructure platform in the East Texas region,” stated Patti Melcher, Managing Director at EIV Capital. “We look forward to providing both financial and operational support to the Woodland team as they capitalize on disconnects between larger pipeline and gathering companies and the service needs of small to mid-sized producers.”
About Woodland Midstream
Woodland Midstream, LLC is a growth oriented midstream company focused on acquiring, developing, operating and optimizing natural gas and natural gas liquids infrastructure throughout Texas and bordering states. EIV Capital Announces Formation of Woodland Midstream