Startup midstreamer Trilogy Midstream Investments said Tuesday private equity firm (PEF) NGP Energy Capital and Trilogy founders have made “significant capital commitments" to the company to develop midstream infrastructure along the Gulf of Mexico Coast.
Trilogy Midstream was founded in 2017 by Jerry Dearing, Dave Marye and Drew Tingleaf who worked together for almost a decade at NET Midstream, which was sold to NextEra Energy Partners for $2.1 billion in 2015.
“We are thrilled to partner with the Trilogy management team to build upon their successful track record of creating value in the midstream sector,” said Chris Carter, managing partner of Irving, Texas-based NGP, Kallanish Energy learns.
“The Trilogy management team’s track record building demand-driven midstream systems, combined with anticipated oil and natural gas volume growth in the U.S., provides a compelling backdrop for this investment.”
“Jerry, Drew and I started Trilogy with the goal of leveraging our expertise and experience to provide innovative and cost efficient midstream solutions for our customers,” said Dave Marye, Trilogy president.
“When we considered bringing on a private equity partner, we looked for a team with a great track record and the ability to support large-scale pipeline projects.”