EIG Global Energy Partners and HM Capital Partners have teamed up to expand the business of BlackBrush Oil & Gas and TexStar Midstream Services. The private equity firms have committed to invest $420 million of capital for a controlling interest in Texas-based companies.
EIG’s capital commitment comprises a $220 million equity commitment and a $200 million senior debt facility. The capital investment will be used to expand business in the Eagle Ford and other unconventional tight oil plays in South Texas, including Olmos, San Miguel, Buda and Chalk.
Click here for the release from BlackBrush.