Medallion Closes on Sale of Natural Gas Business
IRVING, Texas–(BUSINESS WIRE)–Medallion Midstream Services (“Medallion”), a portfolio company of The Energy & Minerals Group, announced today that it has closed the sale of its natural gas gathering and processing business in the Delaware Basin to Cardinal Midstream Partners.
“We are pleased to have completed this transaction as it allows us to enhance our focus on the continuing growth of Medallion’s crude oil gathering and transportation business, which serves its customers through a network of over 1,300 miles of pipeline spanning the Midland and southern Delaware Basins,” said Randy Lentz, Medallion’s Chief Executive Officer.
Medallion is an Irving, Texas based full service midstream provider specializing in the design, construction and operation of crude oil infrastructure in the Permian Basin. Medallion delivers responsive, reliable, sustainable and comprehensive services and solutions for its customers. Medallion is a portfolio company of The Energy & Minerals Group. To learn more about Medallion, its operating assets and its full array of midstream services, please visit www.medallionmidstream.com.
About The Energy & Minerals Group
The Energy & Minerals Group (EMG) is the management company for a series of specialized private equity funds. The firm was founded by John Raymond (majority owner and CEO) and John Calvert in 2006. EMG focuses on investing across various facets of the global natural resource industry including the upstream and midstream segments of the energy complex. EMG currently has approximately $14 billion of assets under management and approximately $12 billion in commitments have been allocated across the energy sector since inception. For more information, please visit http://www.emgtx.com.
Redbird Communications Group