Silver Creek Midstream Completes $300 Million Buyout of Genesis Energy’s Midstream Business in Powder River Basin

October 16, 2018

Willkie client Silver Creek completes $300 million leveraged buyout of Genesis Energy L.P.’s midstream business and receives $600 million commitment from a newly formed joint venture between Tailwater Capital LLC and The Energy & Minerals Group (EMG).

Willkie represented Silver Creek Midstream in its approximately $300 million buyout of Genesis Energy L.P.’s midstream energy business located in the Powder River Basin, which includes crude oil pipelines, terminals, transportation and other infrastructure. In connection with the buyout, Silver Creek received a $600 million equity commitment from a newly formed joint venture between Tailwater Capital LLC and The Energy & Minerals Group.

Headquartered in Irving, Texas, Silver Creek Midstream is a private midstream company focused on providing crude oil gathering, transportation, and storage services in Wyoming, Powder River, Big Horn, and Wind River Basins. Silver Creek Midstream is backed by an equity commitment from Tailwater Capital, LLC, The Energy & Minerals Group and Silver Creek management.

Tailwater Capital is a highly specialized, growth-oriented energy private equity firm and has executed more than 100 energy transactions in the upstream and midstream sectors representing over $18.8 billion in transaction value. EMG is the management company for a series of specialized private equity funds, investing in the global natural resource industry including upstream and midstream sectors. Genesis Energy, L.P. is a diversified midstream energy master limited partnership with operations including offshore pipeline transportation, sodium minerals and sulfur services, marine transportation and onshore facilities and transportation.

The Willkie deal team was led by partners Archie Fallon and Viktor Okasmaa, and included partners William Rooney and Norman Bay and counsel Jonathan Konoff.