Momentum Midstream came to life in September of 2004. Bill Pritchard and Frank Tsuru teamed up while Bill was establishing Peak Energy, Inc., with the initial goal to provide midstream services to wells that Peak was drilling in the Barnett Shale. Peak had a substantial land position in the western part of the Barnett shale and needed gathering and processing to handle their NGL rich natural gas.
The vision for Momentum was to build very large and complex greenfield projects for well-capitalized and aggressive E&P companies. Establishing the relationship between midstream and producer was a novel and soon-copied business plan. It was determined that ownership of both the pipeline and the drill bit would deliver best-in-class results.
As we set out to start a company, we thought it was important to establish guidelines to best determine what type of projects to look at and where. First, the project must be in an area of high organic growth. Second, the asset must be in an area where infrastructure needed improvement. Finally, the project must be located in the core of the play. Following these metrics resulted in over a decade of success with many other companies following our first project.
The vision we had for Momentum could only be attained by finding great people; people who work hard and deliver on promises. Momentum is proud of the extremely complex projects that have been built in seemingly impossible timelines. Timelines requested by producers are often impossible to hit, but Momentum prides itself on its ability to meet optimistic expectations while maintaining a budget that was set months earlier. This is only accomplished by staffing our company with talented, experienced and dedicated employees.
Additionally, our primary equity sponsor, Yorktown Partners, has been a loyal and willing source of equity to help us build these capital intensive and complex plants and gathering systems. Through every equity call, Yorktown has always been there.
Bill Pritchard and Frank Tsuru continue to be close partners and have developed even more alignment between the E&P company to the midstream company. Using our early tactical strategy to connect the E&P company that controls the drill bit, with the midstream company that controls the plants and mainline pipe, results in maximizing value.
We look forward to continuing to grow, exceeding expectations, employing great teams, and providing solutions in the oil and gas space.
William E. (Bill) Pritchard III
Frank D. Tsuru
Chief Executive Officer