Mora Energy Holdings, an energy infrastructure company, has partnered with NGP Energy Capital Management (NGP), Old Ironsides Energy (OIE) and Mora’s management team, securing more than $250m in initial equity commitments.
This strategic move follows Mora Energy’s successful development and sale of its midstream assets in the Permian Basin.
The company, formerly known as LM Energy, has rebranded and is actively seeking new opportunities in energy infrastructure.
Drew Bredthauer, former chief commercial officer of WTG Midstream, has been appointed as the president of Mora Energy.
Mora chief executive Elliot Gerson added: “To succeed in the current environment requires an execution-ready team and a significant amount of capital. With the addition of Drew, our already excellent team is even stronger.
“And our partnership with both NGP and OIE immediately offers us substantial equity capital and financial flexibility. We are extremely well positioned to capitalise on the growing demand for high-quality energy infrastructure and to provide our customers with creative, reliable and safe solutions.”
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By GlobalDataBredthauer’s experience, alongside the Mora management team, is expected to drive the company’s success in developing and acquiring large-scale midstream projects across major US producing regions.
The team has prior experience in the energy sector, particularly in the Delaware and Midland Basins of the Permian, East Texas/Louisiana, the DJ Basin and South Texas.
NGP‘s partner Brian Seline added: “We are thrilled to partner with the Mora team for their latest midstream venture. We have long-standing relationships with Elliot and Drew and have followed their success over many years.
“We believe the Mora team has one of the best track records in midstream and is well positioned to be successful in the current environment. The team possesses the right operational and commercial skill sets to execute at the highest level.”
