EIV Capital, a Houston, Texas-based private equity firm focused on providing growth equity to the North American energy industry, has made an investment in Penrose Midstream Partners, a midstream company focused on acquiring, developing, operating and optimizing midstream infrastructure.
Penrose is led by chief executive officer Rick Van Eyk. The company is focused on offering midstream services to meet producers’ needs. Penrose will be engaged in acquiring and developing natural gas, natural gas liquids and crude oil midstream infrastructure in basins throughout North America.
“It’s a privilege to partner with EIV Capital, and we look forward to leveraging our team’s background and experience to implement our strategy of developing a midstream energy platform that provides tailored, cost-effective solutions for upstream producers and customers,” states Van Eyk. “We believe there is ample opportunity in the current market to develop and optimize midstream energy infrastructure to support the dynamic oil and gas sector across the U.S.”
McDermott Will & Emery LLP served as legal counsel to EIV and Locke Lord LLP served as legal counsel to Penrose.