Bluewing Midstream LLC has secured an initial equity commitment of $100 million from Energy Spectrum Partners VII LP and members of the Bluewing management team. The company plans to use the capital to acquire and develop oil and gas terminaling and transportation assets, with an initial focus on the Gulf Coast. Bluewing Midstream LLC was formed in July and is headquartered in Houston, Texas.
The Bluewing team is led by Todd Reid, who brings over 20 years of energy industry experience, leading private and public organizations. Joining Reid on the Bluewing management team are founding partners Amanda Luckey (vice president of commercial operations) and Leonard Waguespack (vice president of midstream operations).
“The US Gulf Coast terminaling and transportation space represents a unique opportunity in the current energy market,” Reid said. “Our initial focus is pursuing strategic acquisitions, as well as contracted greenfield projects, along the Texas and Louisiana coastal waterways.”
Bluewing Midstream was advised by Vinson & Elkins. Energy Spectrum was advised by Jackson Walker LLP.