Wildcat Midstream Holdings LLC announced Jan. 21 that it has entered into an agreement with Highstar Capital IV, LP, whereby Highstar has acquired a 50% interest in Wildcat from Liberty Energy Holdings, LLC, and Wildcat’s management team. Together, this group will dedicate significant capital toward the continued development and expansion of Wildcat’s midstream infrastructure in North Louisiana and West Texas.
Wildcat was founded in 2011 by Chris Rozzell, Mike Davis and David Miller in partnership with Liberty Energy. In North Louisiana, Wildcat currently operates a cryogenic processing facility with a design capacity of 140 MMcf/d and 400 gpm of amine treating, which is expected to be in full service by the second quarter of 2013. In West Texas, Wildcat is constructing a 40-mile crude-gathering and storage system in Crockett and Reagan counties, which is anticipated to be in service in the first quarter of this year.
“My partners and I are excited to have the continued support of Liberty Energy and the new involvement of Highstar Capital, both of whom share our producer-first philosophy,” Rozzell said. “With their combined backing, we look forward to the aggressive build-out of our North Louisiana rich-gas processing and West Texas crude-gathering infrastructure to provide producers with access to higher-value markets.”
Sean O’Neill, managing director of Liberty Energy, said, “Our enthusiasm for these projects stems from Wildcat’s multi-year efforts to successfully identify and construct value-added midstream projects for its customers. Mike Davis, David Miller and Chris Rozzell bring long-term vision and execution skills drawn from a broad base of midstream industry experience, and their relationships are central to expanding this midstream platform.”