The management team of newly formed Mora Energy is starting with more than $250 million in equity commitments to pursue new energy infrastructure opportunities. (Source: Shutterstock, Mora Energy)
The team behind LM Energy has brought in new leadership and reformed as infrastructure company Mora Energy, the company announced in a press release April 14.
The company has more than $250 million in initial equity commitments from NGP Energy Capital Management and Old Ironsides Energy, which also backed LM Energy, and Mora’s management team.
Mora Energy is actively pursuing new energy infrastructure opportunities, the company said. The management team has experience developing and acquiring midstream projects in the Delaware and Midland basins, the Haynesville Shale, the DJ Basin and South Texas.
Along with much of the same company leadership, Drew Bredthauer, who was WTG Midstream’s chief commercial officer until its sale to Energy Transfer, will take the position of Mora Energy’s president.
“With the addition of Drew [Bredthauer], our already excellent team is even stronger,” said Mora CEO Elliot Gerson in the announcement. “Our partnership with both NGP and OIE immediately offers us substantial equity capital and financial flexibility.”
In August 2024, LM Energy sold its Delaware P&G system to Trace Midstream.
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