First Reserve acquires Navigator Energy

First Reserve, a global private equity and infrastructure investment firm exclusively focused on energy, has acquired Dallas, TX-based Navigator Energy Services LLC, with an equity commitment of up to $250 million.

Midstream services provider Navigator will initially focus on the continued development, construction and expansion of the Big Spring Gateway System (BSGS). Construction of the BSGS project is expected to commence in the first quarter of 2015 to supply crude oil gathering and transportation services to the core of the Midland Basin in Texas. Navigator has long-term, minimum volume commitment contracts with large crude oil marketers and multiple exploration and production companies with drilling programs in the region. 

Upon completion, Navigator is expected to have constructed up to 250 miles of crude gathering pipeline and 140 miles of transportation mainline.

John O'Shea, currently managing director of Tenaska Capital Management, will lead the company as CEO. 

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