Silver Creek Midstream Announces Upsized Equity Commitment of $300 Million

June 12, 2018

Willkie represents Silver Creek in the transaction.

On May 22, Willkie client Silver Creek Midstream, LLC (“Silver Creek”) completed an equity commitment upsize by Tailwater Energy Fund III and certain co-investors (“Tailwater”). Tailwater increased its equity commitment in Silver Creek by $150 million, bringing its total commitment to $300 million.

Silver Creek will utilize the additional equity available to continue the buildout of its 100%-owned crude gathering system in Wyoming’s Powder River Basin. The wholly-owned gathering system will consist of up to 250 miles of crude oil infrastructure spanning Converse, Campbell, Johnson and Natrona Counties.

Silver Creek is a private midstream company focused on providing crude oil gathering, transportation and storage services in Wyoming. Tailwater Capital is a sophisticated, growth-oriented energy private equity firm with a track record of energy transactions in the upstream and midstream sectors representing over $18.6 billion in transaction value.

The Willkie team was led by partner Archie Fallon, and included partner Robert Jacobson and associate Jennifer Johnson.