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Pinnacle Midstream II LLC

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Year established

2014

Location

Houston TX US

Primary Industry

Oil & Gas

About

Established in 2014 and based in Texas, US, Pinnacle Midstream II LLC operates as an oil and gas firm. The company was founded by its CEO, J. Greg Sargent. In May 2024, Phillips 66 Company, a portfolio company of Elliott Management, acquired Pinnacle Midstream II for USD 550 million in cash. The closing of the deal is subject to the satisfaction of customary closing conditions and is expected to be completed in mid-2024. Pinnacle Midstream offers producer clients in the Midland Basin premium natural gas services. The company's services include natural gas gathering and processing, crude oil gathering and stabilization, crude oil trans-loading and storage services, produced water gathering and saltwater disposal wells, and product marketing and support.
Current Investors
Energy Spectrum Capital

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Primary Industry
Oil & Gas
Sub Industries
Oil & Gas Equipment and Services, Oil & Gas Exploration and Production
Website
www.pinnaclemidstream.com
Total Amount Raised
Subscriber access only

Deals

Deals Type
Add-on, Trade Sale
Buyout
Trade Sale
Growth
Deal Status Target (s) Deal Date Investor(s) Seller(s) Deal size (Mn) Enterprise value (Mn) Post-money valuation (Mn) EBITDA multiple (x) Revenue multiple (x) Lead partner (s)
Announced Pinnacle Midstream II LLC 20 May 2024
Completed Pinnacle Midstream II LLC 09 Apr 2019
Completed Pinnacle Midstream II LLC 24 Oct 2017
Completed Pinnacle Midstream II LLC 08 Jan 2015
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