First Reserve
Company Summary
Description
The largest global private equity and infrastructure investment firm exclusively focused on energy. Operates in London, Connecticut, and Houston, Texas.Website
http://www.firstreserve.com/Related Entities
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Recent news
- 11/23/2022 - IOG Resources II... (subscriber access)
- 5/26/2022 - Crestwood Equity... (subscriber access)
- 3/26/2021 - Crestwood Reaches Deal... (subscriber access)
- 3/5/2021 - PetroShale Enters Into... (subscriber access)
- 10/21/2020 - Offerers Commence Dutch... (subscriber access)
Company Transactions
Date: 9/30/2022
Type: Acquisition
NOTES:
Crestwood Equity Partners has signed a deal to acquire the remaining 50% equity interest in Crestwood Permian Basin Holdings LLC from First Reserve for $320 million. As part of the deal, First Reserve will fund $75 million into the JV to pay down asset-level debt and fund a portion of Crestwood's cash due to acquire Sendero Midstream. Concurrently, Crestwood will issue First Reserve 11.3MM common units, representing the full transaction value. This will equate to First Reserve owning 10% of Crestwood's common units. Crestwood will also assume $75 million in debt at the JV level.
Crestwood Equity Partners has signed a deal to acquire the remaining 50% equity interest in Crestwood Permian Basin Holdings LLC from First Reserve for $320 million. As part of the deal, First Reserve will fund $75 million into the JV to pay down asset-level debt and fund a portion of Crestwood's cash due to acquire Sendero Midstream. Concurrently, Crestwood will issue First Reserve 11.3MM common units, representing the full transaction value. This will equate to First Reserve owning 10% of Crestwood's common units. Crestwood will also assume $75 million in debt at the JV level.
REGIONS:
Permian Basin
Date: 12/31/2018
Type: Acquisition
NOTES:
First Reserve has entered into a deal to purchase Dominion Energy's 50% stake in Blue Racer Midstream for up to $1.5 billion, including $1.2 billion in cash and $300 million in earn-out payments from 2019-2021.
First Reserve has entered into a deal to purchase Dominion Energy's 50% stake in Blue Racer Midstream for up to $1.5 billion, including $1.2 billion in cash and $300 million in earn-out payments from 2019-2021.
REGIONS:
Marcellus Shale
Utica
Date: 9/30/2018
Type: Acquisition
NOTES:
Kosmos will fund the deal with $925 million in cash and $300 million in common shares issued to First Reserve.
Kosmos will fund the deal with $925 million in cash and $300 million in common shares issued to First Reserve.
REGIONS:
Gulf of Mexico
Date: 9/18/2018
Type: Acquisition
NOTES:
Baker Hughes will sell the dresser NGS product line to First Reserve, including 450 employees around the globe and three manufacturing sites. This business provides commercial and industrial natural gas meters and pipeline repair products. Meanwhile, the Talomana Branch of the NGS business will be sold to Pietro Fiorentini S.p.A, including 40 employees and a manufacturing site in Italy.
Baker Hughes will sell the dresser NGS product line to First Reserve, including 450 employees around the globe and three manufacturing sites. This business provides commercial and industrial natural gas meters and pipeline repair products. Meanwhile, the Talomana Branch of the NGS business will be sold to Pietro Fiorentini S.p.A, including 40 employees and a manufacturing site in Italy.
REGIONS:
International
Date: 7/24/2018
Type: Acquisition
SELLERS:
EPIC Y Grade Pipeline, LP
DETAILS:
VOLUMES: 80 M Bbls/d
NOTES:
Crestwood Permian Basin Holdings has acquired an undivided stake in the first phase of the EPIC NGL Pipeline Project, which runs from the Orla Natural Gas Plant to Benedum, Texas. Crestwood controls 80 Mbbl/d in NGL transport capacity.
Crestwood Permian Basin Holdings has acquired an undivided stake in the first phase of the EPIC NGL Pipeline Project, which runs from the Orla Natural Gas Plant to Benedum, Texas. Crestwood controls 80 Mbbl/d in NGL transport capacity.
REGIONS:
Permian Basin
Date: 7/3/2018
Type: Acquisition
DETAILS:
VOLUMES: 4.5 MBOE/d
ACRES: 23000 Acres
REGIONS:
Eagle Ford
Date: 8/4/2017
Type: Acquisition
NOTES:
Gas Natural and First Reserve continue to expect to complete the transaction in the second half of 2017.
Gas Natural and First Reserve continue to expect to complete the transaction in the second half of 2017.
Date: 6/5/2017
Type: Acquisition
News & Press Releases
Criterion News
- 11/23/2022 - IOG Resources II... (subscriber access)
- 5/26/2022 - Crestwood Equity... (subscriber access)
- 3/26/2021 - Crestwood Reaches Deal... (subscriber access)
- 3/5/2021 - PetroShale Enters Into... (subscriber access)
- 10/21/2020 - Offerers Commence Dutch... (subscriber access)
- 11/1/2018 - First Reserve Acquiring... (subscriber access)
- 10/30/2018 - Crestwood Announces 3Q18... (subscriber access)
- 7/18/2018 - Baker Hughes Announces Sale of Natural Gas Solutions Business for $375 Million
- 6/1/2018 - First Reserve Selling All Assets of Texas American Resource to Venado
- 2/20/2018 - Crestwood On Track to... (subscriber access)
- 9/22/2017 - Phillips 66 Partners... (subscriber access)
- 8/1/2017 - Crestwood Permian Begins... (subscriber access)
- 6/21/2017 - Crestwood Contributes... (subscriber access)
- 6/6/2017 - Crestwood Reports... (subscriber access)
- 6/5/2017 - BlackRock Closes on... (subscriber access)
- 5/24/2017 - Crestwood Permian Basin... (subscriber access)
- 5/24/2017 - Crestwood Announces... (subscriber access)
- 2/21/2017 - Crestwood Placing Nautilus System in Permian Basin Online on July 1, 2017
- 2/1/2017 - BlackRock Acquiring... (subscriber access)
- 12/29/2016 - Gas Natural Inc.... (subscriber access)
- 12/19/2016 - Texas American Resources Company Receives $250 Million Equity Commitment
- 10/10/2016 - Gas Natural Signs and... (subscriber access)
- 8/10/2016 - Chesapeake Energy... (subscriber access)
- 6/23/2016 - Pemex Selling $500... (subscriber access)
- 2/11/2016 - Investment Firm First... (subscriber access)
Projects & Assets
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