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
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- Enbridge Sees High Demand to Expand 593-Mile Canada-to-U.S. Gulf Oil Pipeline
- Energy Transfer to Build $5.3 Billion Permian Gas Pipeline to Supply Southwest
- Strike Pioneers First-of-Its-Kind Pipe-in-Pipe Installation on Gulf Coast with Enbridge
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- LNG Canada Start-Up Fails to Lift Gas Prices Amid Supply Glut
- Enbridge Sees High Demand to Expand 593-Mile Canada-to-U.S. Gulf Oil Pipeline
- Strike Pioneers First-of-Its-Kind Pipe-in-Pipe Installation on Gulf Coast with Enbridge
Comments