DALLAS, May 22, 2018 /PRNewswire/ — Silver Creek Midstream, LLC (“Silver Creek”) announced today that Tailwater Capital, LLC (“Tailwater”) has increased its equity commitment from $150 million to $300 million. Tailwater’s increased equity commitment will be provided by both Tailwater Energy Fund III (“EF-III”) and EF-III limited partner co-investors.

Silver Creek will utilize the additional equity available to continue the buildout of its 100%-owned crude gathering system in the Powder River Basin. The wholly-owned gathering system will consist of up to 250 miles of crude oil infrastructure spanning Converse, Campbell, Johnson and Natrona Counties. With over 50-miles of existing gathering infrastructure already in place and 150,000 dedicated acres, Silver Creek expects the remaining gathering system and trunklines to be operational by February 2019 and allow for up to 175,000 barrels per day of capacity.

J. Patrick Barley, CEO of Silver Creek, said, “We are excited to continue servicing the growing Powder River Basin through our upsized equity commitment from Tailwater. We believe our crude system provides producers with advantaged takeaway out of the Basin. By utilizing the Silver Creek gathering system in combination with the Iron Horse Pipeline, Silver Creek will provide producers, marketers and refiners with maximum optionality as they look to get their crude oil to Guernsey, Wyoming and into multiple downstream markets.”

Jason Downie, Managing Partner at Tailwater Capital, said, “We continue to see significant opportunities in Wyoming and are excited to increase our commitment to the Silver Creek team. Our successful co-investment capital raise from Energy Fund III limited partners demonstrates our ability to opportunistically scale up our equity commitments to pursue attractive growth prospects.”