New Voyager Company to Explore Natural Gas Midstream Opportunitiesadmin
Thursday, August 7th 2008
Tenaska Capital Management, LLC (TCM), has announced the formation of Voyager Midstream, LLC, a Houston-based company dedicated to developing, acquiring and managing midstream natural gas industry assets in a market where growth opportunities are increasing.
Voyager Midstream, staffed by a team of natural gas industry veterans, will focus nationwide on investments in the broad midstream sector of the gas industry, including processing plants, gathering systems and pipeline transportation, as well as gas storage facilities.
“This new company brings together a team with broad technical and marketing skills and extensive hands-on experience in gas exploration, production, processing, storage and transportation,” said Paul Smith, TCM senior managing director.
“The group’s wealth of experience and talent will also be supplemented by Tenaska’s extensive natural gas industry knowledge and expertise. Voyager Midstream promises to take a leadership role in the gas industry’s midstream sector.”
Voyager Midstream will be led by Dr. Tom Shaw, who will head a team focusing on developing opportunities in the midstream gas storage sector, and Ken Snyder, who will concentrate on locating non-storage midstream acquisition opportunities.
Shaw is a Ph.D. geologist with more than 15 years’ experience in oil and gas exploration and production and six years developing natural gas storage facilities. Snyder, owner of Gulf Energy Development, LLC, and founder of three private companies, has held senior management positions at several large energy corporations creating and directing energy investments.
Shaw’s team includes:
– L. Jay Evans, Jr., with 27 years’ experience in the oil and gas production and in the natural gas industry, the last 25 years in executive and management capacities. – William C. “Rusty” Antrican, with more than 20 years’ experience in natural gas storage, liquefied natural gas terminals, pipelines, resource development, mergers and acquisitions and privatization.
– Renato Bizzio, a geologist with more than 25 years’ experience in the oil and gas industry, including gas storage development projects in Colorado and Texas.
Collectively, the Shaw team has worked worldwide for such industry majors as Unocal, Shell, Chevron and Stone & Webster on almost 50 gas storage projects, plus many midstream applications.
Other natural gas assets which Tenaska Capital Management has managed include two natural gas storage facilities, Caledonia in Mississippi, and Chestnut Ridge in Pennsylvania. Caledonia recently was sold to ENSTOR, Inc. of Houston, and Chestnut Ridge is being completed.
Gas Demand and Production Accelerating
“Demand for natural gas is growing as it is increasingly seen as a clean and efficient energy resource for power generation, industrial processes and vehicle transportation,” said Smith.
Gas production in the continental United States increased 9 percent between first quarter 2007 and 2008, spurred by improved technologies that allow economic production in deep water and large unconventional reservoirs such as shale formations.
“Indications are that proven U.S. gas reserves and gas use will continue growing as new sources are developed and the country increasingly demands clean, domestic resources,” Smith said. “We believe the midstream sector will provide numerous new opportunities, and we are excited at Voyager Midstream’s exceptional potential for successfully capitalizing on its marketplace advantages, especially the strength and depth of its personnel.”
About Tenaska Capital Management
Tenaska Capital Management, LLC (TCM) is an affiliate of Tenaska Energy, Inc. (Tenaska), which is one of the largest independent power producers in the United States. TCM was formed to use Tenaska’s proven operating, technical, marketing and finance expertise to provide management services to standalone private equity funds of institutional investors in acquiring energy and power companies and assets in the United States. Total assets under TCM’s management exceed $3 billion. To learn more about Tenaska, visit the company’s Web site at http://www.tenaska.com.