Articles from Morgan Stanley Energy Partners

Investment funds managed by Morgan Stanley Energy Partners, announced today the closing of the sale of Durango Permian LLC (“Durango Permian” or the “Company”) to a subsidiary of Kinetik Holdings Inc. (“Kinetik”; NYSE: KNTK). Consideration for the Durango Permian sale includes a combination of cash and equity, including contingent consideration payable upon the successful commissioning of Durango Permian’s Kings Landing Gas Gathering and Processing Development (“Kings Landing”). Durango Permian, a subsidiary of Durango Midstream LLC (“Durango”), is a leading gas gathering, processing, and carbon dioxide (“CO2”) sequestration business operating in the Permian Basin of southeast New Mexico. Durango is majority-owned by funds managed by Morgan Stanley Energy Partners.

Signal Power Group (“Signal Power" or “SPG”) announced today that the company has been awarded a significant combined heat & power (“CHP”) contract valued at over $10,000,000 with Union Beverage Packers, LLC (“UBP”). Under the terms of the agreement, Signal Power will procure, assemble, commission, and maintain the complete 3.5MW CHP system for a UBP facility in the state of New Jersey. This system will be powered by the SPG 4 turbine engine under Signal Power’s license with Honeywell International, Inc. The CHP system will deliver 3.5MW of carbon-reducing power generation fueled with natural gas and simultaneously will capture the heat from the turbine engine to produce steam required to meet UBP’s beverage plant needs. The system is expected to be commissioned and operational in mid-2024 and will be supported by a ten-year long-term service agreement provided by SPG to ensure a seamless solution.

Signal Power Group (“Signal Power" or “SPG”) announced today an expansion of its partnership with Honeywell to broaden the reach of Honeywell’s storied turboshaft turbine engine technology. The latest turboshaft technology, developed as part of Honeywell’s T55-714C program, expands the partnership to now include the energy service market. The advanced turboshaft technology has been exclusively licensed to Signal Power, which will continue to be the original equipment manufacturer, for use in distributed power generation, combined heat and power, pressure pumping, marine propulsion, and other energy and industrial applications. These new equipment packages will broaden SPG’s product offering and offer greater versatility to customers. The strategic relationship between Honeywell and Signal Power continues to be supported with investment funds managed by Morgan Stanley Energy Partners, part of Morgan Stanley Investment Management, which remains the majority shareholder in SPG.