First Reserve Pours $500M Into New Midstream Energy Venture

Law360, New York (June 12, 2013, 6:16 PM EDT) -- Leading energy-focused private equity firm First Reserve Corp. on Wednesday said it has launched a new energy company backed by $500 million in First Reserve equity capital and designed to develop, acquire and expand emerging liquids-rich shale plays in North America.

Century Midstream LLC, which is headquartered in Houston, will also target other midstream assets, including emerging liquids, First Reserve said. The company is co-founded and led by four veteran midstream managers who have extensive experience with midstream operations in multiple hydrocarbon commodities.

"We have tremendous...
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