Bayou is receiving its second equity commitment from EIV Capital since forming Bayou I in 2018. (Source: Shutterstock/ Bayou Midstream)
Houston’s Bayou Midstream II LLC has received an equity commitment from EIV Capital LLC following Bayou’s predecessor company selling its Bakken midstream assets through a 2024 sale to Wyoming-based Bridger Pipeline.
The size of the commitment wasn’t disclosed.
Bayou II will be led by CEO Travis Roby and President and CFO Ross Lairson. Bayou II’s leadership team has extensive midstream experience within many of the most prolific basins in the U.S.
Bayou is receiving its second equity commitment from EIV Capital since forming Bayou I in 2018. Bayou I developed and operated strategic midstream assets in the Bakken shale, including the Leviathan Crude Gathering system, the Fairview Connector interstate pipeline, the Alexander Connector Pipeline and the East Fairview and Alexander crude terminals.
The Alexander Connector Pipeline connected both the Alexander and East Fairview terminals to the Dakota Access Pipeline. The Alexander Connector had a capacity of 160,000 bbl/d and the terminal assets had 675,000 bbl of storage capacity.
“We are thrilled to continue our partnership with EIV Capital. Bayou will continue to be a nimble midstream partner with a focus on customer service and integrity. We believe when our partners succeed, we succeed; this mindset led to a successful midstream business with Bayou I and we are excited to continue this approach to building world class midstream assets with Bayou II,” said Travis Roby CEO of Bayou II.
“We are privileged to be renewing our partnership with a talented team that has a proven track record of success in midstream acquisitions and greenfield development,” said Greg Davis, partner at EIV. “We have built a strong working relationship with Travis, Ross and the Bayou team since 2018 and look forward to supporting their efforts to acquire, develop and operate oil and gas midstream infrastructure assets.”
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