Tailwater Capital

Tailwater Capital Announces Launch of Tailwater Royalties to Deepen Investment Presence in Key Basins

DALLAS, Nov. 5, 2021 – Tailwater Capital LLC (“Tailwater” or the “Firm”), a private equity firm that takes a full immersion approach to investing in energy solutions, today announced the formation of Tailwater Royalties LLC and the appointment of Doug Prieto and Quillan Harris as the new entity’s President and Vice President, respectively.

As experienced and innovative investors in the energy and growth infrastructure sectors, Tailwater seeks to leverage its positioning and insights to invest in diversified, value-add strategies. Tailwater Royalties will deepen the Firm’s footprint in critical regions with a focus on the acquisition of minerals and royalties across multiple basins throughout North America, including the Permian Basin, Williston, Eagle Ford and Rockies. Through the leadership of Mr. Prieto and Mr. Harris, Tailwater Royalties will continue to exemplify Tailwater’s commitment to a partnership-based approach with investment theses that build on proprietary knowledge and balanced portfolio construction.

Mr. Prieto brings a broad range of expertise to Tailwater Royalties, most recently serving as Vice President of Land and Midstream for Concho Resources, where he led multiple departments and oversaw the owner relations group and the joint interest ventures group, which was responsible for Concho’s non-operated, mineral and royalty portfolios. Prior to joining Concho, Mr. Prieto was an executive of several sponsor-backed portfolio companies, where he most recently served as Chief Commercial Officer of Atlantic Resources Company, LLC, a horizontal developer of oil and gas assets in the Permian Basin. Mr. Prieto began his career practicing oil and gas law at Lynch, Chappell, Alsup, P.C. in Midland, Texas.

Mr. Harris, an experienced petroleum engineer and third generation oil and gas professional, brings a complementary background and deep ties to Midland, Texas. For the past six years, he led the engineering group for OGX Resources and Santa Elena Minerals, related operating and royalty acquisition entities. Prior to this role, Mr. Harris served in a variety of technical roles in Production and Completions Engineering in the Permian and Rockies basins, and in domestic and international Reservoir Engineering roles for Marathon Oil.

Edward Herring, Co-Founder and Managing Partner of Tailwater, commented, “Tailwater’s full immersion approach to energy and growth infrastructure has set us apart as nimble, creative investors who take a long-term approach. We believe the initiatives planned by Tailwater Royalties will continue to help us build diversified positions for thought leadership in the energy space.”

“We are excited to welcome two sophisticated operators and seasoned professionals in Doug and Quillan to lead this effort for Tailwater, both of whom bring incredible enthusiasm and a breadth of experience,” said Jason Downie, Co-Founder and Managing Partner of Tailwater. “We remain committed to strategically recruiting industry-leading talent at all levels and are fully focused on continuing to execute on our proven strategies.”

Paul Lee, Entrepreneur-In-Residence of Tailwater, will work closely with Tailwater Royalties to execute on its near- and long-term growth objectives. He added, “The vast and diverse set of investment and basin-specific knowledge within the Tailwater ecosystem lends itself well to thoughtfully deploying capital into minerals and royalties across key regions, creating additional value for our investors.”

Full article here

About Tailwater Capital, LLC

Dallas-based Tailwater Capital is a growth-oriented energy private equity firm with a well-established track record of working constructively with proven management teams to deliver value-added solutions. Tailwater has raised more than $3.7 billion in committed capital since inception and the team has executed more than 100 energy transactions in the upstream and midstream sectors representing over $22 billion in transaction value. For more information, please visit www.tailwatercapital.com.

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