Tailwater Capital Acquires Majority Stake in Central Midstream

Tailwater E&P Acquires Non‑Operated Permian Basin Asset Package from Accelerate

October 1, 2024

Oil & Gas

Tailwater E&P LLC, the upstream platform of private equity firm Tailwater Capital, acquired an off‑market non‑operated working interest asset package in the Permian Basin from Accelerate Resources Operating LLC. The assets include more than 5,000 net leasehold acres and produce in excess of 5,000 net barrels of oil equivalent per day across the Midland and Delaware Basins, and Tailwater E&P hedged a significant portion of the production profile as part of the transaction.

Energy Transfer Acquires WTG Midstream for $3.25 Billion

May 28, 2024

Oil & Gas

Energy Transfer LP agreed to acquire WTG Midstream Holdings LLC in a transaction valued at approximately $3.25 billion, comprising $2.45 billion in cash and ~50.8 million newly issued Energy Transfer common units. The deal, from affiliates of Stonepeak, the Davis Estate and Diamondback Energy, adds WTG's Permian-focused midstream assets — including a 6,000-mile pipeline network, eight processing plants (≈1.3 Bcf/d) and a 20% interest in the BANGL NGL pipeline — to Energy Transfer's footprint to enhance its gas/NGL supply, processing and downstream capabilities.

Tailwater Capital Partners with Ash Creek Renewables

July 25, 2023

Renewable Energy

Dallas-based private equity firm Tailwater Capital announced a partnership with Ash Creek Renewables to back the company as a platform for renewable fuel feedstock solutions. Ash Creek, led by CEO John Cusick, will provide feedstock marketing, distribution, pretreatment and logistics to North American renewable diesel and sustainable aviation fuel producers.

M6 Midstream (Momentum) Acquires Align Midstream Partners II from Tailwater Capital

September 22, 2022

Energy

M6 Midstream LLC (Momentum) has acquired Align Midstream Partners II, LLC from Tailwater Capital; financial terms were not disclosed. The acquisition expands Momentum's footprint in the Haynesville Shale as it also closed the Midcoast ETX deal and reached final investment decision on its NG3 gathering and carbon capture project to serve Gulf Coast and LNG markets.

Tailwater Capital Acquires NorTex Midstream Partners

February 17, 2021

Oil & Gas

Dallas-based private-equity firm Tailwater Capital agreed to acquire NorTex Midstream Partners LLC, a Houston-based natural-gas storage and midstream operator. The acquisition gives Tailwater ownership of NorTex’s underground storage capacity (about 36 billion cubic feet), a trading hub and roughly 83 miles of pipeline near the Dallas–Fort Worth area to support gas-fired power generation as a complement to renewable energy.

Tailwater Capital Acquires Tall Oak Midstream II and III from EnCap Flatrock Midstream

January 27, 2021

Energy

Tailwater Capital LLC has signed definitive agreements to acquire Tall Oak Midstream II and Tall Oak Midstream III from EnCap Flatrock Midstream. The transactions — executed via Tailwater Energy Fund III (Tall Oak III) and Tailwater Energy Fund IV (Tall Oak II) — will be integrated operationally with Tailwater's portfolio company Connect Midstream to expand pipeline, processing and compression capacity in the Arkoma STACK basin. Financial terms were not disclosed.