Tall Oak Midstream, a full suite midstream provider serving customers in the Mid-Continent, has acquired Redcliff Midstream, a provider of gas gathering, treating and processing services to producers in Oklahoma’s oil basin. Tall Oak is a portfolio company of Tailwater Capital, a private equity firm based in Dallas.
“Redcliff Midstream’s complementary network of high-quality assets and its diverse customer base are a perfect fit for Tall Oak as we continue to grow our footprint and service offerings in the region,” said Max Myers, CFO of Tall Oak. “We are thrilled with how quickly our partnership with the Tailwater team has presented new opportunities, and we look forward to continuing to work together to grow our business while maintaining best-in-class service for our customers.”
“Redcliff brings an attractive asset base with newly-built pipelines and high-quality compression and processing facilities that augment Tall Oak’s existing capabilities and grow the existing platform,” said Jason Downie, co-founder and managing partner at Tailwater Capital. “The Northern oil basin encompasses a robust inventory of economic undeveloped drilling locations and underutilized midstream infrastructure that Tall Oak is actively evaluating as it searches for accretive bolt-on opportunities to expand its regional footprint.”
Locke Lord served as legal counsel to Tall Oak. Simmons Energy (a division of Piper Sandler) served as financial advisor and DLA Piper, Porter Hedges and Vinson & Elkins all served as legal counsel to the sellers.