Shearman And Sterling

News October 11, 2018

EMG and Tailwater Form JV to Fund Acquisition

Shearman & Sterling represented The Energy & Minerals Group (EMG) in connection with the formation of a joint venture with Tailwater Capital. The joint venture will fund Silver Creek Midstream’s purchase of Genesis Energy’s crude gathering, storage and rail assets in the Powder River Basin. The new commitment from the joint venture provides Silver Creek with $600 million of equity to acquire and expand the existing pipeline and storage assets in the Basin.