Renegade Infrastructure, led by Permian-centric Pinnacle Midstream developers Drew Ward and Jason Tanous, have received a capital commitment from Energy Spectrum Partners. (Source: Shutterstock, Renegade Infrastructure)
Fresh off the sale of the Midland Basin’s Pinnacle Midstream, veterans Drew Ward and Jason Tanous formed Houston’s Renegade Infrastructure LLC in 2024 focused on the acquisition, development and operation of midstream assets in the most prolific basins across the U.S.
On Feb. 3, Renegade secured an inaugural capital commitment from private equity firm Energy Spectrum Partners VIII LP, the firms said Feb. 3. It is the second partnership between Ward, Tanous and Energy Spectrum.
Ward, Renegade’s founder and CEO, most recently co-led the development of Pinnacle Midstream II LLC’s Midland Basin midstream platform, which was sold in July to Phillips 66 for $550 million. Ward was also part of Pinnacle Midstream I LLC’s western Delaware Basin midstream portfolio, which was sold in 2018 to Eagleclaw Midstream.
Ward’s 17-year experience includes work at Crosstex Energy, Kinder Morgan and Twin Eagle Resource Management.
“I am excited to partner with Energy Spectrum for the second consecutive time,” Ward said. “Our leadership team has a strong track record of developing safe, timely and cost-effective midstream solutions in premier oil and gas regions across the U.S., serving all commodities. With our deep expertise and long-standing industry relationships, we believe in our ability to build a successful midstream company that delivers exceptional service to our customers and drives value for all our stakeholders.”
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Tanous will serve as Renegade’s CFO. Tanous was a founding partner of PSI Midstream, a private equity-backed midstream startup where he had numerous financial responsibilities. Renegade also appointed J. Greg Sargent, founder and CEO of the Pinnacle Midstream franchises, as well as founder and CEO of Transtex Gas Treating, as senior adviser to Renegade’s board of managers.
Energy Spectrum Managing Partner Mike Mayon said Ward and Tanous make up the foundation of a great management team.
“The team’s creativity and solutions-oriented approach are differentiators, and we believe Renegade can continue to build on the strong track record of its management team. We are grateful for this partnership and look forward to the journey ahead,” Mayon said.
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