RWE Supply & Trading has invested in First River Energy LLC. Financial terms weren’t announced. Denver-based First River is a midstream energy company backed by Platte River Energy.
DENVER, CO (PRWEB) AUGUST 05, 2015
First River Energy LLC, a midstream energy company based in Denver, today announced it has received an equity investment from RWE Supply & Trading (“RWE”), the energy trading arm of the European utility. The investment from RWE brings global energy expertise to First River Energy and supports the company’s recent acquisitions, including Texas Gathering Company.
First River Energy is evolving the crude oil gathering business for independent producers through its strategically located logistics infrastructure, websites, mobile applications, and data gathering systems.
“After watching First River Energy win customers, grow organic volumes and build out back office and web-based systems in its first year of operation, RWE is excited to invest in the company to support its recent acquisitions, including the Texas Gathering Company,” said Eric Shaw, RWE’s Global Head of Principal Investments. “We look forward to watching and benefitting from the company’s growth and impact in the midstream market for smaller independent producers.”
First River Energy is growing its gathering and marketing network and pursuing new customers and acquisition opportunities throughout North America.
“First River Energy’s management team is pleased to have RWE’s financial backing and the endorsement of our company’s strategy,” said CEO Johan Themaat. “RWE’s investment has enabled us to expand our high quality gathering service for independent producers in a key market through our Texas Gathering Company acquisition.”
San Antonio-based Texas Gathering Company is a privately owned crude oil marketing and transportation company that gathers approximately 24,000 barrels per day, primarily in Texas.
Learn more about oil gathering and marketing solutions for small independent crude oil producers and end users at http://www.FirstRiverEnergy.com.
About First River Energy
First River Energy is a Denver-based based crude oil midstream company focused on evolving energy logistics through seamlessly connecting producers to markets. For more information, visit http://www.FirstRiverEnergy.com.
About RWE Supply & Trading
RWE Supply & Trading is a leading European energy trading house and is the interface between the RWE Group’s operating companies and global wholesale markets for energy and energy-related raw materials in both their physical and/or derivative forms. Further information is available at http://www.rwe.com.