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HOUSTON–(BUSINESS WIRE)–September 23, 2015–
Bluewing Midstream LLC (“Bluewing”) 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 2015 and is headquartered in Houston, Texas.
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Leonard Waguespack, Vice President of Midstream Operations, with Bluewing President Todd Reid and Amanda Luckey, Vice President of Commercial Operations. (Photo: Business Wire)
The Bluewing team, led by Todd Reid, has demonstrated a successful track record of operating together in oil and gas. Mr. Reid brings over 20 years of energy industry expertise and has extensive experience leading private and public organizations. Joining Mr. Reid on the Bluewing Management Team are founding partners Amanda Luckey (Vice President, Commercial Operations) and Leonard Waguespack (Vice President, Midstream Operations).
“The U.S. Gulf Coast terminaling and transportation space represents a unique opportunity in the current energy market,” says Reid. “Our initial focus is pursuing strategic acquisitions, as well as contracted greenfield projects, along the Texas and Louisiana coastal waterways. We intend to build a successful company based on value creation, transparency, and strategic partnerships. On that note, we are thrilled to be partnered with Energy Spectrum Capital – a strong, experienced team with a successful track record of value creation in the midstream sector.”
“The opportunity to enter into a relationship with Todd Reid and the Bluewing team further expands our midstream footprint into the Texas and Louisiana Gulf Coast region,” says Jim Benson, Founding Partner of Energy Spectrum. “We are very pleased to be working with such a seasoned and respected team in the industry.”
Bluewing Midstream was advised by Vinson & Elkins. Energy Spectrum was advised by Jackson Walker LLP.
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