GIP Makes Up to $245 Million Investment in Houston-based Easton Energy

Proceeds from the GIP investment will be used to fund the organic growth of Easton Energy’s asset base and other strategic growth opportunities, with a tailored delayed draw structure to support both existing and future growth projects.

Hart Energy Staff

Mon, 10/04/2021 - 03:10 PM

Global Infrastructure Partners (GIP) made a preferred equity investment of up to $245 million in Easton Energy LLC to support the Houston company’s strategic infrastructure expansion plans along the Texas and Louisiana Gulf Coast.

“We welcome this opportunity to partner with GIP, a leading infrastructure investor with experience in the midstream sector,” Brad Ramsey, president and CEO of Easton, commented in a company release on Sept. 30.

Easton is backed by Cresta Fund Management and focuses on developing infrastructure assets that support the transportation, storage and processing of NGL, refined products and petrochemicals.