Kohlberg Kravis Roberts and Quicksilver Resources (NYSE: KWK) have formed a Horn River midstream partnership, which will be dedicated to the construction and operation of natural gas midstream services supporting producer customers in British Columbia and the Northwest Territories of Canada. Quicksilver contributed its existing gathering line and compression facilities as well as contracts for gas deliveries to create the partnership, while KKR has paid $125 million to Quicksilver for a 50% stake in the partnership.
Since the beginning of 2008, PE investors have invested in 178 companies primarily involved in the Energy Services industry, according to the PitchBook Platform. 45 deals have been completed in the industry so far this year, just one away from matching 2010's final tally. Both add-ons and growth investments have seen their shares of the industry's activity increase over the past few years, while buyouts' and acquisition financings' shares have experienced a relative decline.