DALLAS — June 15, 2016 — Discovery Midstream Holdings LLC (“Discovery”) announced today that the company has partnered with Old Ironsides Energy, LLC (“Old Ironsides”), an independent oil and gas investment manager, to pursue midstream infrastructure acquisition and greenfield development opportunities across North America. Formed in 2015, Discovery is a full-service midstream company based in Dallas whose core services include natural gas gathering, processing, treating and compression; crude oil logistics; and water logistics.
The Discovery management team is led by the company’s three managing partners: President Mike Davis, Chief Commercial Officer Steven Meisel and Chief Financial Officer Drew Chambers. Additional partners include Chief Operating Officer Cory Jordan and Chief Accounting Officer Julie Hartmann. All are former executives of Wildcat Midstream Partners LLC, a company Mr. Davis co-founded in 2011. The Discovery management team has more than 100 years of experience in midstream acquisition, development and operations and has completed projects with a total enterprise value of more than $1 billion.
Industry veteran James W. Bryant will serve as a senior adviser. Mr. Bryant is a chemical engineer with more than 50 years of experience in all phases of the natural gas business. In 2003, Mr. Bryant co-founded Regency Gas Services LLC, the predecessor to Regency Energy Partners. He was instrumental in the formation and growth of several other companies in the midstream sector including Cardinal Gas Solutions LP and Cardinal Midstream LLC. He currently serves on the board of Sunoco LP.
Discovery’s management has a long history with Old Ironsides. The relationship began in 2009 when Discovery President Mike Davis partnered with the Old Ironsides team to construct the Wildcat Sabine Pipeline, a Haynesville and Bossier natural gas gathering system in Louisiana. In 2011, the Wildcat team partnered again with Old Ironsides’ management to form Wildcat Midstream Holdings LLC, which constructed, owned and operated assets in North Louisiana, West Texas and South Texas across several entities.
“After multiple successful partnerships over the past seven years with the Old Ironsides team, we are excited to expand that relationship further to launch Discovery and leverage our deep understanding of the entire midstream value chain to provide a valuable portfolio of midstream solutions to oil and gas producers,” Davis said. “The team we have assembled at Discovery brings the knowledge and skill set to create value for our customers by offering an integrated set of midstream services and infrastructure designed to improve netbacks and service levels for our customers.”
From Old Ironsides
“Discovery’s proven ability to deliver value-added midstream solutions for its producer partners aligns directly with our core philosophy of building long-term value through relationships,” said Old Ironsides Co-founder and Managing Partner Sean O’Neill. “We are excited to continue our partnership with this talented, well-regarded team of midstream specialists.”
About Discovery Midstream
Based in Dallas, Discovery is a full-service midstream company focused on maximizing value and providing outstanding service to producers. Discovery’s management team has more than 100 years of experience in developing grassroots projects, optimizing assets and providing related services in the major producing basins in the United States. For more information, please visit www.discoverymidstream.com.
About Old Ironsides
Old Ironsides is an independent oil and gas investment manager founded in 2013 by the former members of Liberty Energy Holdings, LLC. Since 2001, the team has built a multibillion-dollar platform for investing in energy private equity and drilling joint ventures and has a history of creating value in the oil and gas business. For more information, please visit www.oldironsidesenergy.com.
Managing Partner & CFO
Discovery Midstream Holdings LLC