E2 Energy Services Announces Financial Commitment from Tailwater Capital
DALLAS, Aug. 28, 2017 /PRNewswire/ — E2 Energy Services, LLC (“E2”) announces the recapitalization of E2 through an equity commitment from Tailwater Capital (“Tailwater”), an energy-focused private equity firm based in Dallas, Texas. E2 is a fee based, growth oriented organization designed to build, own, operate and acquire midstream energy assets. E2 currently provides natural gas gathering and processing services as well as extended services and solutions from well pad to market.
E2 was originally formed in 2012 by Robert Stiles (Chief Executive Officer). Mr. Stiles has more than 35 years of experience in the oil and gas industry successfully operating and growing midstream businesses. Prior to E2 Mr. Stiles was the founder of Enerven Compression Services, a provider of midstream and gas compression services throughout North America. Before Enerven, Mr. Stiles served as President and CEO of Weatherford Global Compression Services and has held various executive level positions at Weatherford International and Baker Oil Tools.
In addition to Mr. Stiles, E2’s management team includes Earl Ashley, VP of Operations, Jeff Whitnah, VP of Business Development and Chris Watson, VP of Construction and Project Management. Collectively, the management team brings more than 90 years of combined experience in the midstream sector through their roles at PennTex Midstream Partners, Copano Energy, El Paso Energy and Universal Compression.
Mr. Stiles commented, “We are thrilled to have the support of the Tailwater team on this endeavor. We look forward to their partnership as we continue providing exceptional service to our existing customer base and in our efforts to expand and develop new midstream business opportunities.”
Edward Herring, Managing Partner at Tailwater Capital, said: “We are very excited to partner with Robert and the rest of the E2 management team. E2’s proven track record demonstrates their ability to successfully build, own and operate midstream energy assets. We believe E2’s expertise, industry relationships and execution know-how will provide great customer solutions with equally impressive investment opportunities.”
About E2 Energy Services, LLC
Headquartered in Dallas, Texas, E2 has operated numerous facilities located in the Utica and Marcellus shale plays of Ohio and West Virginia with a total combined capacity of nearly 800 MMSCFD compression and dehydration and 40,000 BPD stabilization with options for truck and pipeline takeaway. E2 is focused in expanding their existing asset base in the Marcellus and Utica basins as well as exploring other opportunities across the United States. For more information about E2 please visit: www.e2energyservices.com
About Tailwater Capital LLC
Dallas based Tailwater Capital is a highly specialized, growth-oriented energy private equity firm with a well-established track record, having executed more than 65 energy transactions in the upstream and midstream sectors representing over $16.6 billion in transaction value. Tailwater currently manages over $2.1 billion in committed capital, over $700 million of which is available for new investments. Tailwater is focused on acquiring and growing midstream assets as well as participating in non-operated upstream opportunities in select basins. For more information, please visit: www.tailwatercapital.com
E2 Energy Services, LLC