![]() ![]() NorTex’s two storage facilities connect with several major pipeline systems serving the North Texas energy markets with natural gas sourced from the Permian Basin, the Barnett Shale and Oklahoma’s SCOOP/STACK plays. Tailwater’s announcement to acquire NorTex, a Houston-based natural gas storage and transportation company with storage assets that serve the North Texas market and Tailwater’s second announcement of the New Year, came just as Texas was warming up from its Arctic deep freeze and at the end of extended and widespread power outages. Tailwater Capital’s courtship of Tall Oak Midstream II and III from EnCap Flatrock Midstream lasted nine months. Īnd these deals are just a precursor to what he sees as an active year in the midstream space. “I hope people view this event as a nonpartisan issue, asking, ‘What really was the root of the problem here?’ The root cause is you can’t have large percentages of renewables on your grid without real redundancy from nonintermittent, reliable energy sources until we have cost-effective battery efficiency to provide the redundancy for renewable fuel sources.”ĭownie’s perspective on the need for reliable natural gas can be seen firsthand in Tailwater’s most recent flurry of transactions: the acquisitions of Tall Oak Midstream II and III in January, as well as NorTex Midstream Partners LLC in February. Downie and his team want to help challenge and solve the state’s power generation shortcomings to prevent this from happening again. The storm even claimed more than four dozen lives. In mid-February, temperatures in the state averaged just 11.8 degrees Fahrenheit, caused by an “Arctic air insurgence.” With power knocked out for millions, Texans were left cold, miserable and uncertain. Jason Downie, co-founder and managing partner of Dallas-based Tailwater Capital LLC, has a take on the irresistible topic of the weather-and specifically one of the coldest and deadliest winter storms Texas has seen in decades: Solve it. ![]()
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