Pennybacker Acquires Miami LNG Business from New Fortress Energy

Pennybacker Acquires Baseline Energy Services

March 26, 2025

Energy

Pennybacker Capital Management has acquired Baseline Energy Services, a provider of low-carbon, mobile distributed power generation solutions that owns and operates ~210 MW across ~1,200 mobile units. Baseline's existing management, led by CEO Graham Radler, will remain in place as Pennybacker provides capital to expand the fleet (targeting up to 1 GW) and grow its presence across data center, industrial and energy end markets; prior investors Tug Hill Capital, Alturus Capital Partners and Donovan Ventures were thanked for their partnership.

Excelerate Energy Acquires New Fortress Energy's Jamaica LNG and Power Platform

May 14, 2025

Energy

Excelerate Energy has closed its acquisition of New Fortress Energy's integrated LNG and power assets in Jamaica, including the Montego Bay and Old Harbour LNG terminals and the Clarendon combined heat and power plant. The transaction was funded with approximately $1.0 billion of equity and debt financings and is expected to bolster Excelerate's downstream capabilities and raise its FY2025 Adjusted EBITDA guidance.

Seaside LNG Acquires LNG Bunker Barge Clean Jacksonville from TOTE Maritime Puerto Rico

February 9, 2023

Energy

Seaside LNG has purchased the liquefied natural gas bunker barge Clean Jacksonville from TOTE Maritime Puerto Rico, LLC. The acquisition expands Seaside's LNG bunkering fleet and geographic reach, with Polaris New Energy contracted to continue technical management and bunkering services for TOTE and other commercial customers.

Enterprise Products Partners Acquires Piñon Midstream for $950M

August 21, 2024

Energy

Enterprise Products Partners L.P. completed the acquisition of Piñon Midstream, LLC, a Black Bay Energy Capital portfolio company, for $950 million in cash. Piñon provides sour natural gas gathering and treating services (including acid gas injection and carbon sequestration) in the eastern flank of the Delaware Basin, and the deal expands Enterprise's footprint and capabilities in that region.

Cryopeak Energy Solutions Acquires LNG Assets from Campus Energy Partners

January 24, 2024

Oil & Gas

Cryopeak Energy Solutions Corporation — formed by the merger of Cryopeak LNG Solutions Corporation and Ferus Natural Gas Fuels Inc. — has acquired all LNG assets from Campus Energy Partners Infrastructure LP, including a regional LNG production facility in Dawson Creek, British Columbia. The deal makes Cryopeak the largest private, vertically integrated LNG producer and service provider in Canada, expanding its production capacity, transportation fleet and regional footprint.

Phillips 66 Acquires Pinnacle Midstream from Energy Spectrum Capital

May 20, 2024

Energy

Phillips 66 has agreed to acquire Pinnacle Midland Parent LLC (Pinnacle Midstream II) from private equity firm Energy Spectrum Capital for $550 million to expand its natural gas gathering and processing footprint in the Midland Basin. The assets include the Dos Picos 220 MMcf/d processing plant, ~80 miles of gathering pipeline and 50,000 dedicated acres; the deal is expected to close mid‑2024 subject to customary conditions, including HSR clearance.