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The CEO of a Houston-based North American supply basin acquisition and development firm says he's "thrilled" after the company received a substantial equity commitment from an investment firm headquartered in Dallas.
Voyager Midstream CEO Will Harvey shared his comments in a company news release issued on Businesswire July 25, after receiving the equity commitment from Pearl Energy Investments.
"We are thrilled to have a strong financial partner like Pearl as we build Voyager into a premier midstream business," Harvey said in the news release. "We admire Pearl's proven track record of successful partnerships and value creation in the energy industry. "American oil and gas supply is and will remain critical in meeting global energy needs. We believe the current environment to acquire, enhance, and develop midstream infrastructure to support this supply is particularly attractive.”
Voyager Midstream is an independent company that acquires and develops crude oil, natural gas and water infrastructure through North American supply basins, according to information on its website.
Pearl Energy Investments, with headquarters at 2100 McKinney Ave. in Dallas, has $1.9 billion in committed capital under management, according to information on its website.
The arrangement is to assist Voyager in its activities in supply basins across North America, according to the news release.
Harvey and fellow Voyager Midstream founding partner Martin McHale worked as executives for other midstream companies before they teamed up, according to the news release. Harvey served as Aris Water Solutions’ senior vice president of corporate development, a position in which he was in charge of the company’s strategic growth initiatives, including its initial public offering two years ago. McHale, Voyager’s chief operating officer, held the same position at Oryx Midstream, where he helmed the operational and engineering development of more than 1,400 miles of pipeline and substantial terminal and storage assets across a 900,000 dedicated acre area.
Oryx has since merged with Plains All American.
McHale said in the news release that he shares Harvey’s confidence in Voyager’s chances to succeed in the current climate.
"We believe our strong relationships across the energy industry, our customer-driven approach, and the financial support from Pearl, who shares in our values and goals, position us well in the current market," McHale said.
Stewart Coleman, a partner at Pearl, said in the news release that Harvey and McHale have a positive reputation throughout the sector.
"Will and Martin have been very successful during their tenure in the energy industry and both are well known and respected amongst their peers," Coleman said. "We are excited to partner with them as they aggressively pursue the acquisition and development of strategic midstream infrastructure."
Bracewell, LLP advised Voyager while Sidley Austin LLP represented Pearl, according to the news release.