DALLAS – December 21, 2017 – Rimrock Energy Partners LLC (“Rimrock”) today announced a partnership with Energy Spectrum Capital (“Energy Spectrum”) to initially invest up to $240 million of equity from Energy Spectrum Partners VII LP and the Rimrock management team. Rimrock has secured an opportunity to construct a new natural gas processing facility and extensive natural gas gathering system in Weld County, Colorado. The new gathering and processing system will serve producers in the northwest portion of the DJ Basin’s Wattenberg Field once in service Q1 2019. ”
“We are excited about our partnership with Energy Spectrum and they will be a great partner to help us reach our vision,” Josh Cruzan, Chief Executive Officer said. “Rimrock’s processing and gathering system will provide a critical need and service for our customer base in the Denver-Julesburg Basin.”
“We are excited to partner with a team that has the depth and breadth of Rimrock’s experience, particularly on a project in the DJ Basin. The Pierce Plant system will greatly enhance the midstream services available to producers and we look forward to supporting Rimrock’s growth,” said Mike Mayon, Vice President of Energy Spectrum Capital.
About Rimrock Energy Partners, LLC
Rimrock was formed in 2015 and is headquartered in Dallas, Texas. The Rimrock management team has more than 100 years of experience in midstream operations. They have completed projects with a total enterprise value exceeding $1 billion.
About Energy Spectrum Capital
Energy Spectrum Capital is a midstream-focused private equity firm that has raised over $3.5 billion in capital commitments focused on investing in North America’s energy infrastructure. Since its inception in 1996, Energy Spectrum has sponsored over 55 portfolio companies. www.energyspectrum.com