DGAP-News: EQT Partners AB: EQT Infrastructure acquires Peregrine Midstream Partners, a natural gas storage company in the United States

DGAP-News: EQT Partners AB / Key word(s): Acquisition
EQT Partners AB: EQT Infrastructure acquires Peregrine Midstream
Partners, a natural gas storage company in the United States

03.08.2011 / 17:45

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EQT Infrastructure acquires Peregrine Midstream Partners, a natural gas
storage company in the United States

– Peregrine Midstream Partners– initial gas storage project is Ryckman
Creek, an existing depleted oil and gas reservoir that will be
converted into a gas storage facility

– The Company is uniquely positioned to leverage existing compression and
pipeline infrastructure at Ryckman Creek to serve the natural gas
market hub at Opal

– The initial multi-cycle working gas capacity of Ryckman Creek has been
fully contracted and the facility is expected to be expanded to 35 BCF
of storage capacity

– Peregrine Midstream Partners has a strong and operationally focused
management team with extensive gas storage and mid-stream oil and gas
experience

EQT Infrastructure has acquired 70% of Peregrine Midstream Partners, LLC
(–Peregrine Midstream– or the –Company–) headquartered in Houston, Texas,
from the management team and other existing investors. EQT Infrastructure–s
investment will allow Peregrine Midstream to fund the completion of Ryckman
Creek, the Company–s first storage facility and one of several gas storage
projects in Peregrine Midstream–s portfolio.

Peregrine Midstream was co-founded in 2009 by John Hopper and Jeff Foutch,
Chief Executive Officer and Chief Commercial Officer, respectively. They
are joined on the senior management team by former management team members
from Falcon Gas Storage Company, which they also co-founded. The management
team is a leader in the midstream industry and has successfully completed
and operated gas storage projects in Texas while also initiating projects
in Alabama and New York.

Peregrine Midstream–s initial storage project, Ryckman Creek, is located in
the state of Wyoming in an oil and gas producing region of the United
States. The Ryckman Creek reservoir previously produced oil and gas for
Amoco Production Company from 1976 through 1993. The Federal Energy
Regulatory Commission granted the Ryckman Creek facility approval on July
28, 2011 to be converted into a gas storage facility. Peregrine Midstream
will during the coming years focus on building and expanding the storage
facility at Ryckman Creek. When Ryckman Creek begins its storage operation
in 2012, it will provide essential gas storage services to markets in the
Western and Midwestern United States.

The Ryckman Creek facility will initially offer approximately 18 billion
cubic feet (–BCF–) of working gas capacity, all of which is currently under
contract. At full capacity, Ryckman Creek will offer 35 BCF of high
deliverability multi-cycle working gas storage. The storage facility will
utilize existing compression infrastructure and interconnections with four
pipelines: Kern River, Questar, Overthrust and Northwest. An
interconnection with Ruby Pipeline is planned for 2013.

–Together with EQT Infrastructure and the strong network of Industrial
Advisors, we are excited to move forward with the Ryckman Creek project.
Natural gas has continued to develop strong momentum as a key form of
energy supply in the United States. Peregrine Midstream is well positioned
to take advantage of this momentum by providing critical storage
infrastructure and services to the natural gas market– says John Hopper,
CEO and co-founder of Peregrine Midstream.

–Peregrine–s strong management team and their proven approach to gas
storage combines well with strong industry drivers and potential for value
creation. The team–s experience from developing other storage projects
together with the unique Ryckman Creek asset provides the opportunity to
evolve Peregrine Midstream into a major natural gas storage platform,– says
Barry Pearl who will become Chairman of the Peregrine Midstream Board of
Directors. The new Board of Directors will also include Geoffrey Roberts
(board member of Midland Cogeneration Venture and Chairman of RTI), Alan
Englehart, Dean Jones, John Hopper and Glen Matsumoto.

Contacts:
Johan Hähnel, PR&Communication +46 8 506 55 334
EQT Infrastructure

Glen T. Matsumoto, Partner +1 914 607 4502
EQT Partners, Investment Advisor to EQT Infrastructure

Jeffrey H. Foutch, CCO +1 713 974 5606
Peregrine Midstream Partners

About EQT
EQT is the leading private equity group in Northern Europe with more than
EUR 16 billion in raised capital and multiple investment strategies.
Together with a superior network of Industrial Advisors, EQT implements its
business concept by acquiring or financing good medium-sized to large
companies in Northern and Eastern Europe, Asia and the United States,
developing them into leading companies. Development is achieved by applying
an industrial strategy with focus on growth. Since inception, EQT has
invested EUR 10.4 billion in more than 90 companies and exited more than
40. EQT-owned companies have more than 550,000 employees.

EQT Infrastructure is a EUR 1.2 billion fund (launched 2008) investing
primarily in existing infrastructure and has the flexibility to invest
globally. Potential targets are basic infrastructure, concession-based
infrastructure, social infrastructure and infrastructure-related services.

EQT Partners, acting as investment advisor to the managers of each EQT
fund, has more than 100 investment professionals with an extensive
industrial and financial competence. EQT Partners has offices in
Copenhagen, Frankfurt, Helsinki, Hong Kong, Oslo, London, Munich, New York,
Shanghai, Singapore, Stockholm, Warsaw and Zurich.

More information can be found on www.eqt.se

About Peregrine Midstream Partners
Headquartered in Houston, Texas, Peregrine Midstream Partners is a
privately-held company founded in 2009 by the former founders and
management team of Falcon Gas Storage to pursue development and acquisition
opportunities in the midstream energy sector in addition to providing
midstream asset management and advisory services. Peregrine–s midstream
business model is focused on natural gas storage, transportation and
processing; NGL extraction; crude oil and NGL production, storage,
handling, marketing and sales in association with HDMC natural gas storage
development and operations; and energy commodity risk management.

More information can be found on www.peregrinempllc.com

End of financial news

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03.08.2011 Dissemination of a Corporate News, transmitted by DGAP – a
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