New midstream firm gets $500 million investment

Privately held Navitas Midstream Partners, recently formed in The Woodlands, Tex., “to develop, acquire, and operate midstream assets across multiple basins in North America,” has received a line-of-equity investment of as much as $500 million from an affiliate of Warburg Pincus, New York.

The three founding partners and top executives of Navitas Midstream are former executives of Copano Energy LLC., which Kinder Morgan Energy Partners LP acquired last year for about $5 billion (OGJ Online, Jan. 30, 2013).

The Navitas Midstream executives are R. Bruce Northcutt, chief executive officer, who was president and chief executive officer of Copano Energy; James E. Wade, chief commercial officer, who was chief operating officer of Copano Energy’s Texas business unit; and Bryan W. Neskora, chief operating officer, who was Copano Energy’s chief operating officer.

Members of the management team and other individuals joined Warburg Pincus in the investment.

Related Articles

WoodMac: Norway’s 10 billion bbl of undeveloped resources could net $106 billion

08/27/2014 Norway holds 10 billion boe of discovered but undeveloped natural resources, of which 60% could be commercialized and potentially add $106 billion ...

Verma named managing director at India’s ONGC Videsh

08/27/2014 India’s ONGC Videsh Ltd. has named Narendra Verma its managing director. Verma’s previous positions include director of exploration of Maharatna ON...

CNRL files OSCA application with AER for Grouse oil sands project

08/27/2014 Canadian Natural Resources Ltd. has submitted an Oil Sands Conservation Act application with Alberta Energy Regulator for its Grouse steam-assisted...

MARKET WATCH: NYMEX prices climb ahead of US oil supply drop

08/27/2014 Crude oil prices rose modestly on the New York market Aug. 26 ahead of the weekly government oil inventory report while analysts correctly anticipa...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected