Funds associated with Warburg Pincus have agreed to invest in Delta Midstream, a newly formed midstream company based in Houston. Financial terms were not disclosed.
Delta will look to acquire, develop and operate midstream assets within both private and public ownership structures across the hydrocarbon value chain, including natural gas, natural gas liquids and crude oil operations. The company will target opportunities across multiple basins in North America.
Delta will be led by the former executive management team of Noble Midstream Partners.
“We are grateful to have the support and confidence of Warburg Pincus to assist us in evaluating a highly opportunistic landscape for energy investing,” said Noble Midstream CEO Terry Gerhart. “The firm’s patient capital and experience through multiple energy cycles offer unique advantages as we approach the current midstream environment.”
