Morgan Stanley, former ETP president partner on Midcon project

By Luke Geiver | November 28, 2017

The SCOOP and STACK plays in the Midcontinent region of North America’s shale landscape is worth investing in for Morgan Stanley Energy Partners. The investment team at MSEP has formed a strategic partnership with a Houston-based midstream firm working in the Midcontinent. The deal will provide equity from MSEP to Durango Midstream to help the midstream entity grow its business there.

Durango gathers natural gas in Texas, Oklahoma and Kansas. The equity gained through the deal with MSEP will be used to upgrade and expand existing assets and capabilities in Oklahoma. The early focus will be in Grady County where producers are ramping up activity and production from the SCOOP and STACK plays.

Robert Lee, managing director for MSEP, said the company is uniquely positioned for growth in the SCOOP/STACK, adding that there are “exceptional opportunities presented by nearby oil and gas producers.”

Richard Cargile, formerly the President of Midstream Operations at Energy Transfer Partners L.P., is leading Durango Midstream’s expansion efforts.