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Tailwater Capital commits $150 mln to Silver Creek

Irving, Texas-based Silver Creek Midstream, a midstream energy company, has secured $150 million in funding. The backer was Tailwater Capital.


IRVING, Texas, Nov. 16, 2017 /PRNewswire/ — Silver Creek Midstream, LLC (“Silver Creek Midstream”), headquartered in Irving, Texas, announced a $150 million commitment from Tailwater Capital, a Dallas-based energy private equity firm. Silver Creek Midstream is focused on providing crude and liquid petroleum gathering, storage, and terminalling services in the Permian Basin and Powder River Basin.

Silver Creek Midstream’s management team is led by Founder and Chief Executive Officer J. Patrick Barley. Mr. Barley brings over 13 years of midstream experience in multiple basins across the United States. Prior to Silver Creek Midstream, Mr. Barley founded JP Energy Partners LP, which grew from a small private entity to a publicly-traded master limited partnership that invested over $700 million in midstream infrastructure under Mr. Barley’s leadership. Prior to JP Energy Partners LP, Mr. Barley founded Lonestar Midstream, L.P., a gas gathering and processing company in the Barnett Shale that was ultimately sold to Penn Virginia Resource Partners, L.P.

In addition to Mr. Barley, Silver Creek Midstream has assembled a veteran management team that includes Chris Storey, Chief Financial Officer, Jon Hanna, Senior Vice President of Business Development, Cande Smillie, Vice President Controller and Administration, Aaron Hencke, Director of Engineering & Operations, Ashley Hobbs, Director of Corporate Development, and Jeff Ballard, Director of Business Development. The Silver Creek Midstream team brings a diverse set of experiences from well-established midstream providers and upstream producers, and has a highly successful track record of executing midstream transactions.

“We are incredibly excited to partner with Tailwater as we start Silver Creek Midstream,” said Mr. Barley. “I have known the Partners at Tailwater and worked directly with the Silver Creek management team for many years; collectively, we could not be more excited to start this company. Crude production continues to grow in both the Permian and Powder River Basins and we look forward to providing creative midstream solutions for producers in those areas.”

Jason Downie, Managing Partner at Tailwater, said, “We are thrilled to partner with Patrick Barley and the rest of the Silver Creek Midstream management team. Patrick and his team have deep industry relationships and significant operational expertise through developing and operating midstream assets across multiple basins. We are looking forward to supporting them in their growth.”

Silver Creek Midstream was represented by King & Spalding, LLP’s Houston, Texas office. Partner Archie Fallon served as lead advisor to Silver Creek Midstream. Thompson & Knight, LLP advised Tailwater Capital, with J. Holt Foster, III as lead counsel from the firm’s Dallas office.

Headquartered in Irving, Texas, Silver Creek Midstream is a private midstream energy company focused on providing crude and liquid petroleum gathering, storage, and terminalling services in the Permian Basin and Powder River Basin. Silver Creek Midstream is backed by a $150 million funding commitment from Tailwater and Silver Creek Midstream management. For more information, please visit: