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Terminal News

Discovery Midstream receives $1 billion equity funding for midstream projects

Discovery Midstream receives $1 billion equity funding for midstream projects
Discovery Midstream Holdings has received initial equity funding of $1 billion from Stonepeak Infrastructure Partners to pursue a series of North American midstream opportunities.

Headquartered in Dallas Discovery is led by four founding partners - Co-CEO's Drew Chambers and Steven Meisel, CFO Daniel Sailors and COO Cory Jordan – who had a successful track record of value creation in the midstream industry.

Discovery will pursue a strategy targeting midstream assets within both private and public ownership structures, at various stages of maturity, and across the hydrocarbon value chain, including natural gas, natural gas liquids and crude oil. The company says it will 'focus on situations where outcomes can be influenced with Discovery's expertise in operational and commercial optimisation'.

Co-CEO, Drew Chambers, says: 'We believe that now represents a unique and attractive time to invest in the U.S. midstream sector, supported by secular volumetric growth, historically depressed valuations, supportive structural changes in the public markets and limited new capital formation.'



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