Houston, TX – Bayou Midstream, LLC (“Bayou”) and EIV Capital, LLC (“EIV”) are pleased to announce the closing of the sale of Bayou’s operating subsidiaries to Bridger Pipeline LLC (“Bridger”). Bayou’s subsidiaries own and operate crude oil gathering, storage, and transportation assets and a strategic sand transloading terminal in the western Bakken.
“This transaction represents the culmination of hard work and dedication by the Bayou team to deliver exceptional customer service and reliability to our partners through our midstream assets. We are grateful to our customers who entrusted Bayou to provide their midstream services, and we want to thank our team for the dedication to our vision and core values. Additionally, we want to thank our partner, EIV, for rolling up their sleeves and working alongside Bayou to create a top tier midstream company. We are confident the operations of these assets are in exceptionally good hands with the Bridger team and that they will continue serving as a premier midstream provider in the area,” said Travis Roby, co-founder and CEO of Bayou Midstream.
EIV and Bayou partnered in 2018 to pursue midstream opportunities in the Rockies. Through greenfield development, organic growth and the integration of a strategic acquisition, Bayou developed a system transporting over 55,000 barrels of crude oil per day and transloading approximately 45,000 tons of sand per month. “Bayou strategically built the business to service the growing western Bakken market through a challenging market backdrop and greatly appreciates all stakeholders for buying into that vision,” said Ross Lairson, co-founder and CFO of Bayou Midstream.
Intrepid Partners, LLC served as the exclusive financial advisor and McDermott Will & Emery served as legal counsel to Bayou in connection with the transaction.
ABOUT BAYOU MIDSTREAM, LLC
Bayou Midstream, LLC, headquartered in Houston, Texas, is a full-service midstream company focused on the development and acquisition of midstream infrastructure. For more information, please visit www.bayoumidstream.com.
ABOUT EIV CAPITAL, LLC
Founded in 2009, EIV Capital is a Houston, Texas-based private equity firm specializing in providing growth equity to the North American energy industry. EIV Capital focuses on investments in businesses which create value through infrastructure, innovation or efficiency. The firm’s management has extensive experience leading and investing in successful companies across the energy value chain. For more information, visit www.eivcapital.com.
