Laser Midstream Energy is our fourth private equity backed midstream venture. We are focused on acquiring, building and expanding natural gas and oil transportation and processing assets to dramatically increase efficiency in North America’s oil and gas sector, focusing on multiple basins for opportunities.
After two decades of designing and building midstream facilities with various companies, we founded the first iteration of Laser Midstream in March 2005. That firm focused on acquiring and developing natural gas gathering and processing in Texas and Louisiana. Laser’s initial investment was the Panola gathering system in East Texas. Subsequently, Laser acquired the Texas and Louisiana assets of OptiGas and the South Texas assets of HESCO. Laser management was successful in attracting new gas to these systems and completed several expansion projects after the systems were acquired. In 2007, most of Laser’s midstream assets were sold to an affiliate of Duke Energy Services and Eagle Rock Energy Partners.
In November 2007, we founded Laser Northeast, the first gathering system to traverse Pennsylvania and New York State in the Marcellus Shale region. In July 2010, the Laser Northeast assets were sold to Delphi Midstream Partners, a subsidiary of Williams Partners. In addition to the Laser Northeast assets, the second iteration of Laser Midstream also identified and reactivated several acquired idle crude pipelines primarily located in Texas and Louisiana, which it sold in 2014 and 2015 in separate regional packages.
We founded Azure Midstream, a multi-service midstream company, in July 2012. Azure focused on operating and expanding its strategically positioned natural gas gathering, transportation and treating assets in Texas and Louisiana. Azure acquired TGGT Midstream from EXCO and BG in 2014. Azure and Marlin Midstream formed a partnership in January 2015. Azure completed a drop down transaction to Azure Midstream Partners in August 2015. In March 2018, Azure completed a $7 million pipeline expansion in its Holly System. Azure achieved five straight years of national Gas Processors Association “best-in-class” safety record. Through disciplined business practices and rigorous management, Azure is positioned for a favorable sale.