Platte River completes follow-on investment in First River Energy

Platte River Equity has completed its follow-on investment in First River Energy LLC to facilitate the acquisition of Texas Gathering LLC and related assets. The transaction represents the first acquisition by First River since Platte River's initial investment in July 2014.

Founded in 2002, Texas Gathering is a crude oil marketing and logistics company focused on servicing smaller independent oil producers. The company gathers, markets, and blends approximately 23,000 barrels per day of crude oil, primarily in the Permian and Eagle Ford regions in Texas. Through its relationships with pipeline companies, refineries, and large integrated oil and gas companies, Texas Gathering is able to connect its customers to markets that are largely inaccessible to small producers.

Travis Davis, Texas Gathering company owner, and his management team have joined First River as part of this transaction.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...