Ironwood III Launches with Kayne Anderson Backing, Acquires Eagle Ford Gathering System
(P&GJ) — Ironwood Midstream Energy Partners III LLC (Ironwood III), led by industry veteran Mike Williams, has launched with a significant equity commitment from Kayne Anderson Energy Infrastructure Fund (KYN) and an initial acquisition in the Eagle Ford Shale.
The newly formed company has acquired a crude oil gathering system spanning Atascosa, Frio, La Salle, and McMullen counties in South Texas. The asset includes more than 50 miles of pipelines, nearly 50,000 dedicated acres under long-term, fee-based agreements, and two storage terminals with a combined capacity exceeding 18,000 barrels.
“We are excited about this strategic acquisition in the Eagle Ford, which positions Ironwood III in a region where we have extensive knowledge, experience, and a proven track record of success,” said Justin Johnson, President of Ironwood III.
Ironwood III’s leadership team features returning members from earlier Ironwood entities, including CEO Mike Williams, CFO Eric Paulson, COO Geron Hendrickson-Javois, and President and CCO Justin Johnson. The group brings experience across the full lifecycle of midstream operations.
“With our deep operational expertise, strong industry relationships, and the support of a strong financial partner like KYN, we are uniquely positioned for sustainable, long-term growth,” said CEO Mike Williams.
KYN executives cited confidence in the Ironwood team and their shared long-term vision for building out a midstream platform.
“We are excited to partner with the Ironwood III team and work alongside an industry veteran like Mike,” said Jim Baker, President and CEO of KYN. “This team has earned a strong reputation in the energy industry, and KYN, with its size and long-term capital base, is well positioned to help the Ironwood team execute its strategy.”
Ron Logan, Executive Vice President of KYN, added, “We share a similar vision with the Ironwood team and look forward to partnering with them to create a sizable midstream platform.”
Ironwood III was advised by Haynes & Boone, while KYN received legal counsel from Winston & Strawn.
Related News
Related News
- Army Corps Lists Enbridge’s Line 5 as ‘Emergency’ Project Eligible to Bypass Environmental Review
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- ONEOK, MPLX to Build $1.4 Billion LPG Export Terminal, Pipeline in Texas
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- Army Corps Lists Enbridge’s Line 5 as ‘Emergency’ Project Eligible to Bypass Environmental Review
- Kinder Morgan Approves $1.4 Billion Mississippi Crossing Project to Boost Southeast Gas Supply
- India’s GAIL Eyes U.S. LNG Deals Following Trump’s Policy Shift
- TC Energy Beats Q4 Profit Estimates, Driven by Mexico Pipelines' Success
- Colonial Pipeline's Main Gasoline Artery Shut for Leak Investigation Through Friday
Comments