
(Source: Shutterstock.com)
M Wright Services, an oil and gas pipeline construction firm, announced that Velocity Management Advisors (VMA) has made a minority investment in the Oklahoma-based firm.
“MWS has been looking to strengthen their Board with experienced entrepreneurs, investors and operators who understand the Midstream pipeline construction market and will support their growth,” M Wright Services said in a press release on Jan. 17.
The announcement did detail the value of Velocity’s investment.
VMA is a partnership of three managers, backed by Energy Spectrum Capital, who have built and monetized more than $800 million in assets since 2008. Velocity Management divested Velocity Midstream in 2018 for $442 million, and the partners have since served as investors and served on several boards.
Tied to VMA’s investment, three partners are joining the pipeline builder’s board. All of the partners worked for Velocity Midstream: Rick Wilkerson served as the former CEO; Van Nguyen as COO; and Mike Parker as CFO.
ClearRidge represented MWS on the transaction, while McAfee & Taft provided legal advice to MWS, and Hall Estill provided legal advice to VMA.
Recommended Reading
E&P Highlights: Jan. 21, 2025
2025-01-21 - Here’s a roundup of the latest E&P headlines, with Flowserve getting a contract from ADNOC and a couple of offshore oil and gas discoveries.
Diversified, Partners to Supply Electricity to Data Centers
2025-03-10 - Diversified Energy Co., FuelCell Energy Inc. and TESIAC will create an acquisition and development company focused on delivering reliable, cost efficient net-zero power from natural gas and captured coal mine methane.
Exxon Seeks Permit for its Eighth Oil, Gas Project in Guyana as Output Rises
2025-02-12 - A consortium led by Exxon Mobil has requested environmental permits from Guyana for its eighth project, the first that will generate gas not linked to oil production.
E&P Highlights: Jan. 27, 2025
2025-01-27 - Here’s a roundup of the latest E&P headlines including new drilling in the eastern Mediterranean and new contracts in Australia.
Inside Ineos’ US E&P Business Plan: Buy, Build, Buy
2025-01-27 - The E&P chief of U.K.’s Ineos says its oily Eagle Ford Shale acquisition in 2023 has been a profitable platform entry for its new U.S. upstream business unit. And it wants more.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.