DALLAS – January 10, 2023 – Tailwater Capital LLC (“Tailwater”), a private equity firm that takes a full immersion approach to investing in energy and growth infrastructure solutions, today announced the promotion of two senior leaders within the Tailwater family. Paul Lee, who previously served as Entrepreneur-in-Residence for Tailwater Capital, has been promoted to Operating Partner, where he will continue to play an integral role across Tailwater’s investment initiatives, with a particular focus on cultivating and evaluating operated upstream opportunities. Doug Prieto, who previously served as President of Tailwater Royalties, has been appointed Chief Executive Officer of Tailwater E&P, LLC, a newly branded entity that combines its existing non-operated exploration and production (E&P) and royalties businesses. Lee and Prieto will serve in critical leadership roles within the Tailwater family and will work closely together across all upstream opportunities. Both promotions became effective in 2022.

The newly branded Tailwater E&P team will manage Tailwater’s existing non-operated E&P investment platform, an owner of non-operated working interests in high-quality upstream oil and gas assets, and Tailwater Royalties, a buyer of oil and gas mineral interests in the Lower 48. In addition, Tailwater E&P will play a key role in the technical evaluation of the firm’s midstream infrastructure and upstream investments. Tailwater E&P will work closely with Tailwater’s investment professionals to support the firm’s operated E&P strategy to develop a comprehensive upstream portfolio across operated, non-operated and royalties verticals within the E&P space.

The expanded E&P team will leverage complementary insights across all of Tailwater’s businesses to identify proprietary investment opportunities for minerals, royalties and non-operated working interests in premier basins. The existing teams – comprised of cross-functional investment professionals, engineers, finance, business development and land professionals – will continue in their current roles.