TULSA, OK–(Marketwired – June 08, 2015) – Quantum Energy Partners (“Quantum”) is pleased to announce the formation of Intensity Midstream LLC (“Intensity”) with founders Joseph L. Griffin (“Griffin”) and Derek G. Gipson (“Gipson”, and together with Griffin, the “Founders”). Supported by initial equity commitments in excess of $300 million from Quantum and the Founders, Intensity will pursue the acquisition, development, and operation of high quality midstream assets across select North American basins.
The Founders are accomplished leaders in the midstream energy space, having most recently served as President & Chief Executive Officer and Executive Vice President & Chief Financial Officer, respectively, for Hiland Partners, LP (“Hiland”). The Founders successfully re-focused the partnership into the largest dual provider of crude oil and natural gas midstream services in the Bakken Shale until its sale to Kinder Morgan, Inc. for $3 billion in February 2015. Hiland established strong customer relationships with top quartile producers and executed over $2 billion of growth capital projects servicing producer needs under Griffin’s leadership.
“We are excited to grow a producer-focused midstream company that will provide our customers with creative midstream solutions. We intend to bring responsiveness, quick decision making and solid execution to these solutions. We decided to partner with Quantum because of the firm’s deep industry relationships, partnership orientation, shared core values and similar investing philosophy,” stated Griffin.
Bill Montgomery, Managing Director of Quantum, commented, “We are thrilled to be partnering with such an entrepreneurial team and look forward to building a substantial midstream platform alongside Joe and Derek. We are confident that the Founders’ extensive operational experience, impressive track record, and strong customer relationships will allow them to succeed in today’s dynamic midstream environment.”
About Intensity Midstream LLC
Based in Tulsa, Oklahoma, Intensity will construct, develop, acquire, enhance and operate gathering, treating, processing, storage, transportation and other midstream assets across select North American basins. For more information, please contact Intensity at (918) 998-4005.
About Quantum Energy Partners
Quantum Energy Partners is a leading provider of private equity capital to the global energy industry, having managed together with its affiliates, more than $10.5 billion in equity commitments since inception. For more information on Quantum, please visit www.quantumep.com.
Intensity Midstream LLC
Quantum Energy Partners