Frontier Energy Services is backed by Dallas-based midstream-focused private equity firm Energy Spectrum Capital.
Frontier IV will leverage on the deep understanding and experience that Frontier has in the Permian and other prominent basins.
Its focus will specifically be on project areas that will utilize Frontier management team’s long-standing relationships, vast experience in midstream and track record in the Permian Basin and other important plays in North America.
Energy Spectrum Capital president Tom Whitener said: “As long-standing investors with Frontier, we are excited to continue our partnership as they enter this next phase in their evolution.
“Frontier IV brings together some of the most talented and experienced investors and operators in the U.S. midstream marketplace. We look forward to helping it succeed.”
The Frontier management team has invested more than $1.5bn of capital in the midstream sector. Since 2002, it has completed 16 important midstream projects in six US states.
Frontier had recently constructed and operated a 644km-long crude oil pipeline transmission system named as Alpha Crude Connector in the Northern Delaware Basin.
In January, the midstream energy company and Concho Resources, its joint venture partner divested their respective stakes in the Alpha Crude Connector to Plains All American Pipeline for an aggregate sum of $1.215bn. The Alpha Crude Connector joint venture was formed by Frontier and Concho Resources in 2014.
Frontier IV marks the fourth time that Frontier Energy Services will be partnering with Energy Spectrum Capital as part of their 15-year relationship.
Frontier President and CEO Dave Presley said: “Energy Spectrum Capital has been an outstanding partner offering unwavering support and deep experience that has led to successful ventures year after year.
“We look forward to expanding on the momentum achieved with the recent Alpha Crude Connector project to build assets that will result in continued success for our producers and partners.”
