US-based natural gas production start-up Nuevo Midstream has raised $65m from EnCap Energy Infrastructure Fund, Torch Energy Advisors and Petroleum Fuels Company.
The money will help Nuevo Midstream develop and operate midstream infrastructure for natural gas producers in southeast New Mexico and west Texas.
Led by Jay Lendrum, Torch Energy’s current president and chief operating officer, the senior leadership group at Nuevo Midstream has more than 120 years of energy industry experience and also includes Randy Ziebarth, vice president of operations; Chris Work, vice president and chief financial officer; and Dwight Serrett, vice president of engineering and construction.
JP Bryan formed Torch in 1981 under the guidance of Torchmark, an insurance holding company.
EnCap Energy Infrastructure Fund is managed by US-based private equity firm EnCap Flatrock Midstream, while Petroleum Fuels is a privately held energy company owned by Ronald Brown. P
Petroleum Fuels will lead Nuevo Midstream’s natural gas liquids marketing.