EMG Closes on the Sale of Its Crude Oil Business in the Delaware Basin
HOUSTON–(BUSINESS WIRE)–The Energy & Minerals Group (“EMG”) announced that it has closed the sale of one hundred percent of the membership interests of EMG Medallion 2 Holdings, LLC (“Medallion”), a portfolio company that owns over 140 miles of crude oil pipelines and approximately 106,000 barrels of crude oil storage capacity in the core of the southern Delaware Basin to POPB DE Crude Holdings LLC, a wholly owned subsidiary of Plains Oryx Permian Basin LLC.
Greenhill, a Mizuho affiliate, acted as sole financial advisor to EMG and Medallion. Locke Lord LLP acted as the principal legal advisor to EMG and Medallion.
About The Energy & Minerals Group
The Energy & Minerals Group (EMG) is a specialized natural resource focused private equity firm founded in 2006 with current assets under management (“AUM”) of approximately $13 billion as of September 30, 2024. In addition, EMG’s funds and co-investments have returned approximately $11 billion to Limited Partners to date. EMG targets equity investments of $150 million to $1,000 million across the natural resource industry, which includes the extraction and processing of the critical metals and minerals to facilitate decarbonization as well as upstream and midstream energy. For more information, please visit http://www.emgtx.com.
Contacts
Meredith Howard
Redbird Communications Group
Phone: 210-737-4478
Email: meredith@redbirdpr.com
