Dallas Business Journal – Dallas’ Tailwater doubles investment in Irving oil and gas firm to $300 Million
Dallas private equity firm Tailwater Capital has doubled its stake in Irving oil and gas company Silver Creek Midstream to $300 million following an investment raise.
The firm’s first investment in the company came in November and the new capital will help Silver Creek finish building its own 250-mile crude oil gathering system of pipelines out of the Powder River basin of Wyoming. More drillers, pipe makers and their investors are scrambling for footholds in the region as an attractive alternative to the crowded Permian basin fields of West Texas.
The firm committed the additional capital out of its third energy fund and raised about $100 million from more than two dozen co-investors in the deal, according to a recent regulatory filing.