Investment funds managed by Morgan Stanley Energy Partners (MSEP), part of Morgan Stanley Investment Management, has made a majority equity investment in Durango Midstream.
Terms of the transaction were not disclosed.
Durango Midstream is a natural gas gathering, processing and marketing company providing midstream services to oil and gas producers in Texas, Oklahoma, and Kansas.
The investment furthers MSEP’s midstream businesses in the Midcontinent region of the United States. The partnership with MSEP provides the company with additional resources to upgrade and expand Durango Midstream’s existing asset base and capabilities. The company’s initial growth projects are expected to focus on expansion of its gathering and processing system in Grady County, Okla., to support producers active in the rapidly growing Merge-SCOOP-STACK plays of Central Oklahoma.
