Agreements enhance Advantage Midstream’s platform for producers and processors facing infrastructure or geographical challenges in North American producing basins
DALLAS – Advantage Midstream, LLC, a Dallas-based independent, midstream and gas-to-liquids focused oil and natural gas company, today announced it reached an agreement with funds managed by Castlelake, L.P. to serve as its primary equity sponsor. Castlelake, L.P. is a global private investment firm managing private funds and debt vehicles with more than $10 billion in assets. In addition to the sponsorship of Castlelake funds, Advantage Midstream also announced it has partnered with Sacramento, California-based technology provider Greyrock Energy Inc. and its affiliates.
Advantage Midstream was founded to provide producers and processers with gathering, processing and conversion solutions for natural gas and natural gas liquids that might be lacking proper infrastructure or that are geographically constrained. Advantage and Greyrock work together to deploy the industry-leading Direct Fuel ProductionTM gas conversion systems that create road-ready, low-environmental impact motor fuels from natural gas, natural gas liquids, and waste gas.
John Stephenson, Chief Executive Officer of Advantage Midstream said, “Castlelake funds’ sponsorship and our partnership with Greyrock Energy Inc. provide Advantage with resources and access that will enhance our ability to meet the needs of producers and processors. Through the combination of traditional energy infrastructure, proprietary gas conversion technologies and a customer-centric approach, Advantage Midstream is poised to unlock significant value and increase returns for its customers from down hole to downstream.”
“By sponsoring Advantage Midstream, Castlelake funds’ are able to invest in oil and gas infrastructure through innovative gas-to-liquids conversion systems,” said Evan Carruthers, Managing Partner at Castlelake. “This investment aligns with our focus on asset-rich, scalable opportunities within niche markets, and we believe that the Advantage team’s expertise and unique systems position it to be a reliable midstream platform for producers and processers across market cycles.”
“”Greyrock is excited about our partnership with Advantage and its capital sponsor Castlelake, which will facilitate the deployment of Greyrock Direct Fuel Production™ systems and the production of next generation, premium fuels.” said Robert Schuetzle, Chief Executive Officer of Greyrock.
Advantage Midstream is currently focused on opportunities in the Permian Basin, Appalachia, Rockies, Bakken Shale, Mid-Continent and Gulf of Mexico, as well as other producing basins. The company offers a variety of services, including natural gas conversion, natural gas gathering, processing, treating and compression; crude oil and condensate gathering, transportation and marketing; freshwater delivery and produced water disposal; and other oil and gas midstream services.
Advantage Midstream’s management team is comprised of three founding partners: Chief Executive Officer John Stephenson, Chief Operating Officer Kevin Beasley and Chief Commercial Officer Charles Nelson. As CEO, John Stephenson leads the management team and oversees the execution of its strategic vision.
Investments in oil and gas assets made by Castlelake funds are executed and managed by Castlelake’s Dislocated Industries and Special Situations team. The team is comprised of professionals with expertise in identifying cyclical industries in need of liquidity and acting quickly to provide capital solutions. Contact Castlelake’s Dislocated Industries team by emailing dislocatedindustries@castlelake.com.
About Advantage Midstream
Advantage Midstream, headquartered in Dallas, Texas, is a midstream and marketing company focused on the production of liquid fuels from gas resources across North America. Advantage offers producers and processors tailored gathering, processing and conversion solutions for natural gas and natural gas liquids that might be lacking proper infrastructure or constrained geographically. For more information, visit www.advantagemidstream.com.
About Castlelake
Castlelake, L.P. is a global private investment firm focused on investments in alternative assets, sub-performing loans, dislocated industries and special situations, and is an experienced leader in aircraft ownership and servicing. Castlelake’s team comprises more than 110 professionals, located in Minneapolis and London. Castlelake manages private funds and debt vehicles with more than $10 billion in assets, on behalf of endowments, foundations, public and private pension plans, private funds, family offices, insurance companies and sovereign wealth funds. For more information, visit www.castlelake.com.
About Greyrock
Greyrock works to solve environmental and energy challenges through application of innovative technical solutions. Greyrock’s industry leading Direct Fuel Production™ systems produce premium, cleaner burning liquid fuels from alternative and waste resources including flare gas, natural gas, carbon dioxide, and other materials. More information is available at www.greyrock.com.