Midway Energy Partners Sells Permian Assets to Multiple Buyers
According to Permian Basin Oil and Gas Magazine, Midland-based Midway Energy Partners has completed a sale of its Permian Basin assets to multiple operators. Post Oak Energy Capital, the Houston-based private equity firm backing Midway, announced the deal June 9. Managing director Ryan Walsh said Midway “executed an effective ground-game strategy in one of the most competitive basins in the country, successfully assembling a high-quality asset position that attracted interest from operators across the industry.” Financial terms were not disclosed.
What It Means for Subcontractors
- Multiple buyers mean fragmented field relationships. Work that flowed through a single operator contact at Midway may now be split across several new operators, each with their own vendor approval processes and contract requirements.
- Expect re-bid activity. New operators taking over acreage positions typically review existing service agreements, creating both risk and opportunity for incumbent contractors.
- Get ahead of onboarding. If you’ve been working Midway acreage, identify the incoming operators early and initiate qualification paperwork before work orders stall.
