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Powder River Midstream Company Lands $300MM Equity Deal
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Meritage Midstream Services III, LP, a newly-formed, Denver-based midstream partnership today announced an equity commitment of up to $300 million from funds managed by energy private equity firm Riverstone Holdings LLC to pursue midstream opportunities in Western Canada's emerging resource plays. The initial Riverstone commitment of $100 million includes $67 million from Riverstone Global Energy and Power Fund VI and $33 million from Riverstone Energy Limited (REL).
Meritage III is led by Chairman and CEO Steven B. Huckaby and President Nicholas O. Thomas, industry veterans who have successfully established and led multiple midstream entities, including Meritage Midstream Services II LLC, an existing Riverstone Global Energy and Power Fund V investment. Meritage II provides oil and gas…
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