Natural gas processor TexStar Midstream Services LP is exploring a possible sale, said people who were familiar with the matter. The company was owned by EIG Global Energy Partners and Tailwater Capital. TexStar extracts and processes natural gas in Eagle Ford Shale of Southern Texas. According to same people familiar with the possible deal, TexStar may attract investors who are looking to expand in the region.
The market value of TexStar was not clear but it could be bigger than the value of Teak Midstream, said the same sources.
Meanwhile, Evercore Partners Inc. is looking for potential suitors according to sources who asked not to be identified as matters were held private. Evercore has started sending out expressions of interest through marketing materials to possible buyers. The same sources added that the first round bids were due by the end of this month.
Spokesperson for Evercore and EIG refused to comment on the report. Representatives for both Tailwater and TexStar did not give any statements.
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