Portfolio

Natural Gas Gathering

ESP VI

Azure Midstream

Formed in July 2012, Azure Midstream (“Azure”) is a multi-service midstream company focused on operating and expanding its strategically positioned natural gas gathering, transportation and treating assets in East Texas.

Azure is the third partnership between management and Energy Spectrum.

Water Logistics

ESP VII

BlueJack Energy Solutions

Formed in April 2016, BlueJack Energy Solutions (“BlueJack”) is an oilfield waste company with a near-term focus on contracted water gathering, disposal and recycling opportunities. BlueJack currently provides wastewater management services to Laredo Petroleum (NYSE: LPI) in Glasscock and Reagan counties, TX within the Midland Basin of West Texas. The company owns and operates two salt water disposal wells and associated water infrastructure that are anchored by a substantial acreage dedication of produced water from LPI.

Aboveground Terminal Liquids Storage

ESP VII

Bluewing Midstream

Formed in July 2015, Bluewing Midstream (“Bluewing”) is an energy logistics company focused on acquiring, operating and optimizing terminaling, storage and transportation facilities on the U.S. Gulf Coast. Bluewing currently operates a terminaling facility on the Port of Brownsville, TX and continues to optimize and expand this asset.

Salt Cavern Liquids Storage

ESP VII

Caliche Development Partners

Formed in May 2016, Caliche Development Partners (“Caliche”) is focused on the acquisition, development, construction, ownership, and operation of subsurface hydrocarbon storage assets in North America, with a primary focus on the U.S. Gulf Coast. Caliche is currently developing the Coastal Caverns project site located on the Spindletop salt dome, four miles south of Beaumont and only 52 miles east of Mont Belvieu, TX.

Natural Gas Processing

ESP V

Ceritas Energy II

Energy Spectrum and Quantum Energy Partners established Ceritas II in February 2008 to pursue midstream opportunities. Ceritas II previously constructed natural gas gathering systems in the Piceance Basin in western Colorado as well as in the Marcellus Shale play in central Pennsylvania and has since monetized each of these assets. Most recently, Ceritas II formed a joint venture with a leading industry technology provider to pursue opportunities to process natural gas liquids from the CO2 recycle stream in CO2 flood projects. The joint venture is currently operating three plants located in Wyoming and Texas.

Ceritas II is the second partnership between management and Energy Spectrum.

Established Platform

ESP VII

Frontier Midstream Solutions IV

Formed in June 2017, Frontier Midstream Solutions IV (“Frontier IV”) is focused on acquiring, building and developing crude oil, natural gas and water-related midstream assets with an initial focus on Texas and Oklahoma.

Frontier IV is the fourth partnership between management and Energy Spectrum.

Natural Gas Gathering and Processing

ESP VI

Kanata Energy Group

Formed in November 2012, Kanata Energy Group (“Kanata”) is a Canadian midstream company focused on acquiring, building and developing midstream assets throughout Canada. In January 2015, Kanata commenced operations of a natural gas gathering and processing system in the Montney Play of northeast British Columbia (the “Daiber Gas Plant”) and subsequently formed a joint venture with Cequence Energy (TSE: CQE) in May 2015 (the “Simonette Gas Plant”), to acquire and expand additional natural gas gathering and processing assets in the Alberta Montney.

Crude Oil Logistics and Water Disposal

ESP VI

Lakewood Midstream

Formed in August 2013, Lakewood Midstream (“Lakewood”) is focused on acquiring and developing producer services assets in Texas and Oklahoma. In late 2013, Lakewood acquired Itero Energy, a crude oil reclamation business serving the Permian Basin and Mid-Continent. In November 2013, Lakewood acquired BS&W Solutions, a crude oil reclamation and water disposal business with assets that are complementary to Itero Energy’s assets.

Established Platform

ESP VII

Laser Midstream Energy

Formed in August 2018, Laser Midstream Energy (“Laser IV”) is focused on acquiring, building and developing crude oil, natural gas and water-related midstream assets throughout the United States.

Laser IV is the fourth partnership between management and Energy Spectrum.

Crude Oil and Natural Gas Gathering and Processing

ESP VII

MV Midstream

Formed in December 2017, MV Midstream (“MVM”) was created by Energy Spectrum and MVP Holdings to pursue greenfield and acquisition opportunities in crude oil and liquids-rich natural gas basins. In December 2017, MVM announced the formation of Great Salt Plains Midstream Holdings (“GSPM”), a joint venture between MVM and Chisholm Midstream, a subsidiary of Chisholm Oil and Gas, LLC (“Chisholm”). GSPM is currently constructing a 300+ mile crude oil and natural gas gathering system primarily located in Kingfisher County, OK as well as a cryogenic processing facility (the “Silver Lake Plant”) in Major County, OK with initial capacity of up to 70 mmcf/d. Initially be anchored by Chisholm, the System will provide additional optionality for producers operating with the STACK play of Central Oklahoma.

Liquids Treating and Stabilization

ESP VI

Prism Midstream

Formed in September 2012, Prism Midstream (“Prism”) was created to acquire and/or develop midstream assets with an initial focus on West Texas and the Gulf Coast. In June 2016, Prism began accepting natural gas liquids and condensate at its liquids handling facility in Crockett County, TX (the “Bedrock Facility”). The Bedrock Facility is anchored by long-term contracts with marketing companies active within the southern Midland Basin.

Natural Gas Gathering and Processing

ESP VII

Rimrock Energy Partners

Formed in 2015, Rimrock Energy Partners (“Rimrock”) was created as a strategic, growth-oriented company focused on the acquisition, development and management of midstream assets targeting crude oil, natural gas and natural gas liquids (“NGLs”). In late 2017, Rimrock formed a partnership with Energy Spectrum and announced that the Company had commenced construction of a new natural gas gathering and processing facility in Weld County, CO (the “Pierce Plant and Gathering System”). Once completed during the first quarter of 2019, the Pierce Plant and Gathering System will serve producers in the northwest portion of the DJ Basin’s Wattenberg Field, providing up to 200 mmcf/d of cryogenic processing capacity and access to premium residue and NGL markets.

Natural Gas Gathering and Processing

ESP VII

Santa Fe Midstream

Formed in October 2014, Santa Fe Midstream (“Santa Fe”) was created to pursue midstream opportunities with an initial focus in Texas and Oklahoma. In August 2017, Santa Fe began the construction of a natural gas gathering, treating and processing system in the San Andres play within the Permian Basin. Santa Fe is concurrently developing a crude oil gathering system in the area as well. These systems will initially be anchored by a substantial acreage dedication from a leading private equity-backed producer. The natural gas and crude oil gathering systems will be located in Yoakum, Gaines and Cochran counties in Texas as well as Lea County, NM.

Natural Gas Gathering

ESP VI and VII

Stonehenge II A and B

Formed in June 2012, Stonehenge Energy Resources II (“Stonehenge II”) was created to build, own and operate natural gas gathering and processing assets. In May 2015, Stonehenge II entered into an agreement with Rex Energy Corporation (NASDAQ: REXX) to develop a natural gas gathering, compression and dehydration system in the Marcellus Shale (the “Butler Pipeline System”). The Butler Pipeline System was commissioned in September 2016. In addition, Stonehenge II has entered into a commercial agreement with Laurel Mountain Energy (“LME”) to construct and operate a natural gas gathering system in Clarion and Butler counties as an extension from the Butler Pipeline System. The system is scheduled to be in service during the first quarter of 2018.

Stonehenge II A LLC (“Stonehenge II A”) and Stonehenge II B LLC  (“Stonehenge II B”) were formed in May 2015 to invest in Stonehenge II, which is a co-investment between ESP VI and ESP VII. ESP VI is the sole member of Stonehenge II A and ESP VII is the sole member of Stonehenge II B.

Stonehenge II is the second partnership between management and Energy Spectrum.

Crude Oil Gathering, Produced Water Gathering and Disposal and Fresh Water Sourcing

ESP VII

Taproot Energy Partners

Formed in May 2018, Taproot Energy Partners (“Taproot”) was created to pursue greenfield and acquisition opportunities targeting crude oil, natural gas and natural gas liquids (“NGLs”). Taproot is led by Kevin Sullivan, who previously led Costar Midstream, a successful investment of ESP VI. In May 2018, Taproot formed a joint venture in the DJ Basin with a subsidiary of Bison Oil & Gas (“Bison”). Anchored by Bison, the system will include crude oil and produced water gathering and transportation, produced water disposal and fresh water sourcing. Taproot secured its second producer customer in September 2018 and continues to pursue other active producer customers within the area to add to the system, which is currently under construction.

Taproot is the second partnership between management and Energy Spectrum.

Natural Gas Gathering

ESP IV and VII

Tristate Midstream II and III

Formed in September 2011, Tristate Midstream II (“Tristate II”) is focused on the acquisition and construction of natural gas gathering and processing systems in Texas, Louisiana and Arkansas. In October 2012, Tristate II acquired substantially all of Forest Oil Corporation’s (“Forest”) natural gas gathering systems located across seven counties in East Texas. Tristate II currently operates approximately 200 miles of natural gas gathering and transportation pipelines, along with associated treating and compression equipment, which primarily service producers active in the Cotton Valley and Haynesville plays.

Formed in December 2015, Tristate Midstream III (“Tristate III”) is focused on acquiring, building and developing crude oil, natural gas and water-related midstream assets in Louisiana, Arkansas and Oklahoma. In 2016, Tristate III acquired a natural gas gathering system located in Caddo Parish in northern Louisiana. The acquisition is located in the prolific Ark-La-Tex crude oil and natural gas producing basin and established an asset footprint in northern Louisiana, an area where management has extensive experience.

Tristate II and III are the second and third partnerships between management and Energy Spectrum, respectively.

Natural Gas Gathering

ESP VII

Vesta Midstream Partners

Formed in January 2017, Vesta Midstream Partners (“Vesta”) is focused on acquiring, building and developing natural gas and crude oil gathering and processing assets primarily in Oklahoma. Vesta is currently constructing a natural gas gathering system (the “Oil City Gathering and Processing System”) in Carter County, OK. The Oil City Gathering and Processing System is anchored by a long-term acreage dedication from a privately-owned producer. Once fully operational, the system will be well positioned to capture additional producers active within the southern SCOOP area.

ESP VII

Caprock Midstream

Formed in June 2015, Caprock Midstream (“Caprock”) was created to pursue greenfield and acquisition opportunities in crude oil and liquids-rich natural gas basins. Caprock was led by Mike Forbau, who previously served as Chief Commercial Officer at Hoover Energy Partners, a successful investment of ESP V. Caprock amassed a full service midstream system located in Reeves County, TX, ultimately providing natural gas gathering, compression and processing, crude oil transportation and water management services to multiple crude oil and natural gas producers in the Delaware Basin of West Texas. In November 2018, Caprock was sold to EagleClaw Midstream.

ESP VI

Costar Midstream

Formed in April 2011, Costar Midstream (“Costar”) focused on the acquisition and development of natural gas gathering and processing facilities principally in Texas and Oklahoma. Costar acquired and developed multiple gathering and processing assets across Texas and North Dakota. These assets included the Gas Solutions system of over 500 miles of natural gas gathering pipelines, three cryogenic natural gas processing plants and associated compression and treating assets located in a four-county area near Longview, TX. Costar also developed a natural gas gathering and processing system in West Texas primarily in Martin County and a Bakken crude oil gathering system in McKenzie County, ND. In October 2014, Costar was sold to American Midstream Partners (NYSE: AMID).

ESP VI

Frontier Midstream Solutions III

In May 2014, Frontier Midstream Solutions III (“Frontier III”) entered into a joint venture agreement with Concho Resources (NYSE: CXO) to develop a greenfield crude oil gathering and transportation system in southeast New Mexico (the “Alpha Crude Connector” or “ACC”) anchored by an acreage dedication from Concho. Frontier III was able to secure additional acreage dedications over the next two years to supplement its dedication from Concho. In January 2017, Frontier III sold its interest in the ACC to Plains All American (NYSE: PAA).

Frontier III was the third partnership between management and Energy Spectrum.

ESP VI

Liberty Midstream Services

Formed in June 2013, Liberty Midstream Services (“Liberty”) was focused on providing gathering, treating, processing, compression and transportation services to crude oil oil and natural gas producers primarily in Texas and Oklahoma.

ESP VI

Rio Midstream Partners

Formed in October 2012, Rio Midstream (“Rio”) was focused on acquiring, building and developing crude oil, natural gas and water-related midstream assets primarily in Texas and Oklahoma.

ESP VI

Velocity Midstream Partners II

Formed in January 2012, Velocity Midstream Partners II (“Velocity II”) constructed and operated a crude oil and condensate gathering and transportation system in the SCOOP play in southern Oklahoma, anchored by a long-term contract with Continental Resources (NYSE: CLR). In addition successful expansion to the existing system, Velocity II constructed additional midstream infrastructure to provide SCOOP crude oil and natural gas producers access to CVR Energy’s (NYSE: CVI) Wynnewood Refinery. In November 2018, Velocity II sold its interest in crude oil and condensate systems to Enable Midstream Partners (NYSE: ENBL).

ESP V

Aspen Pipeline II

Aspen Pipeline II (“Aspen II”) was initially formed in January 2008 to co-invest with Aspen Pipeline (ESP IV) in the Odessa Fuels project, a natural gas pipeline in West Texas constructed to gather and deliver high nitrogen content natural gas to customers capable of directly burning the natural gas without nitrogen removal. Aspen II sold its interest in the Odessa Fuels project to DCP Midstream (NYSE: DCP) in January 2012.

ESP V

Frontier Midstream

Frontier Midstream (“Frontier II”) was formed in March 2008 with a strategy of acquiring and/or building greenfield midstream development projects, initially located in the Fayetteville Shale, Marcellus Shale, Permian Basin and the Mid-Continent area. Frontier II was led by the previous President and CEO and several other management team members of Frontier Field Services (a Fund II/III portfolio company). Frontier II acquired and/or constructed four natural gas gathering systems in the Fayetteville Shale in Arkansas and a natural gas plant and gathering system in the Granite Wash play of the Texas Panhandle. In April 2011, Frontier II sold all of its assets to Crestwood Midstream Partners, a subsidiary of Crestwood Equity Partners (NYSE: CEQP).

Frontier II was the second partnership between management and Energy Spectrum.

ESP V

Hoover Energy Partners

Hoover Energy Partners (“Hoover”) operated a natural gas gathering and treating system in Pecos County, TX as well as an associated natural gas gathering, water transportation and disposal system in Reeves County, TX. Hoover also operated its Pecos Crossing Pipeline, a 24-mile, 12-inch crude oil gathering and transportation system that served producers throughout the southern Delaware Basin. In February 2014, Hoover sold its assets to Regency Energy Partners, a subsidiary of Energy Transfer Partners (NYSE: ETP).

ESP V

Laser Midstream Energy II

In November 2007, Laser Midstream Energy II (“Laser II”) was formed to pursue opportunities in the midstream natural gas business with a primary focus on acquiring and expanding underutilized systems in mature areas. Laser II’s primary project was a greenfield Marcellus Shale natural gas gathering project in Susquehanna County, PA (“Laser Northeast”). In July 2010, the Laser Northeast assets were sold to Delphi Midstream Partners, a subsidiary of Williams Partners (NYSE: WPZ). In addition to the Laser Northeast assets, Laser II also identified and reactivated several acquired idle crude pipelines primarily located in Texas and Louisiana, which it sold in 2014 and 2015 in separate regional packages.

Laser II was second partnership between management and Energy Spectrum.

ESP V

Stonehenge Energy Resources

In December 2009, Stonehenge Energy Resources (“Stonehenge”) formed Keystone Midstream Services, a joint venture with Rex Energy Corporation (NASDAQ: REXX), to build a Marcellus Shale natural gas gathering and processing system in Butler County, PA. The first processing plant was completed in December 2010 and the second in June 2012. In May 2012, Stonehenge sold all of its interests in Keystone Midstream Services to MarkWest Energy Partners, a subsidiary of MPLX (NYSE: MPLX).

ESP V

Texas Energy Midstream

In late 2008, Texas Energy Midstream (“TEM”) constructed and operated a natural gas gathering system and compression facility in Tarrant County, TX, in the heart of the Barnett Shale (the “Mansfield System”). The Mansfield System began gathering produced natural gas in January 2009. In July 2014, DFW Midstream Services, a subsidiary of Summit Midstream Partners (NYSE: SMLP), acquired TEM’s interest in the Mansfield System.

ESP V

TransEdge Energy

In July 2007, TransEdge Energy (“TransEdge”) was formed to pursue opportunities primarily in the refined products pipeline and terminal sectors. TransEdge owned and operated two heating oil, refined products and propane distribution companies in the northern New Hampshire market, which were sold to Stone Road Energy in October 2014.

ESP V

Tristate Midstream

Tristate Midstream’s (“Tristate”) initial acquisition was a natural gas gathering and compression system in Red River Parish, LA, which was expanded and eventually sold to Energy Transfer Partners (NYSE: ETP) in March 2010. In November 2011, Tristate sold its remaining natural gas gathering and compression assets in Sabine Parish, LA, to Crestwood Midstream Partners, a subsidiary of Crestwood Equity Partners (NYSE: CEQP).

ESP V

Velocity Midstream Partners

Formed in November 2008, Velocity Midstream Partners (“Velocity”) was created to acquire, build and develop midstream assets with organic growth opportunities across the U.S. In July 2009, Velocity acquired certain East Texas natural gas gathering assets from Berry Petroleum Company and subsequently sold those assets in November 2010. In July 2010, Velocity secured a condensate gathering and transportation agreement with Rosetta Resources, a subsidiary of Noble Energy (NYSE: NBL) in the Eagle Ford Shale. Velocity constructed a condensate gathering and storage system in South Texas, which was ultimately sold to Plains All American (NYSE: PAA) in November 2011.

ESP IV

Aspen Pipeline

Aspen Pipeline (“Aspen”) was formed in June 2006 with an initial investment in a small natural gas gathering system in Erath County, TX. Subsequently, Aspen developed two other projects: a 50 MW biomass power plant located in Lufkin, TX and a high nitrogen natural gas pipeline in West Texas (“Odessa Fuels”). In January 2012, Aspen sold the majority of Odessa Fuels’ assets to DCP Midstream (NYSE: DCP).

ESP IV

C&J Energy Services

In October 2006, Energy Spectrum invested in C&J Energy Services (“C&J”), a coiled tubing and pressure pumping company primarily focused on the South Texas market. C&J expanded its operations by opening new facilities in East Texas and Oklahoma, and by adding multiple fracturing and coil tubing fleets, positioning the Company to serve producers within the Haynesville and Eagle Ford Shale plays. In July 2011, C&J went public on the New York Stock Exchange (Ticker: CJES). In November 2012, Energy Spectrum monetized its remaining ownership in C&J.

ESP IV

Ceritas Holdings

Ceritas Energy (“Ceritas”) was formed in January 2005 with a strategy to acquire and grow natural gas gathering and processing assets. Ceritas’ first acquisition in March 2005 was a natural gas gathering and processing system in Liberty County, TX. The Company was successful in attracting new gas to the system, as well as expanding the system and adding a 50 MMcf/d processing plant. Ceritas sold its Liberty System to DCP Midstream (NYSE: DCP) in June 2010 and its Optigas assets to Monarch Natural Gas Holdings in June 2012.

ESP IV

Clear Creek Energy Services

Clear Creek Energy Services (“Clear Creek”) was a midstream energy company formed in June 2005 with a focus on the Powder River Basin in northeastern Wyoming and the Piceance Basin in western Colorado.

ESP IV

Dornick Hills Midstream

Dornick Hills Midstream (“Dornick Hills”) was formed in November 2004 to acquire a 170-mile natural gas gathering system and processing plant in Cooke and Grayson counties near Sherman, TX from Dynegy. The Company sold those assets to SemGas, L.P., the natural gas business unit of the SemGroup (NYSE: SEMG), in October 2006.

ESP IV

Enerven Compression

In August 2005, Energy Spectrum acquired a majority interest in Enerven Compression (“Enerven”) from one of its prior owners. At the time, Enerven owned and operated a small rental compression fleet, and a third party compression maintenance business through its wholly-owned subsidiary Wesco. Energy Spectrum provided additional capital to Enerven to support its strategy of growing its rental compression fleet by acquiring and deploying new compression units. In April 2008, after having significantly grown the size of its rental compression fleet, Energy Spectrum sold its interest in Enerven to two institutional investors and existing Enerven management.

ESP IV

Forrest Drilling Company

Forrest Drilling Company (“Forrest”) was a contract land drilling rig operator that owned and operated a fleet of seven large newly built diesel electric SCR land drilling rigs, ranging from 1,000 horsepower to 1,500 horsepower in size. In March 2006, Energy Spectrum invested in Forrest in partnership with Gungoll Exploration Company to build these drilling rigs. Forrest sold substantially all of its operating assets to a subsidiary of Chesapeake Energy (NYSE: CHK) in December 2010.

ESP IV

High Sierra Energy

In October 2006, Energy Spectrum invested in High Sierra Energy (“High Sierra”), a private master limited partnership (“MLP”) with primary operations including crude oil, liquids and refined products gathering, transportation, storage and marketing, and the disposal and processing of water associated with the production of crude oil and natural gas. In May 2012, High Sierra sold to NGL Energy Partners (NYSE: NGL).

ESP IV

Laser Midstream Energy

Laser Midstream (“Laser”) was founded in March 2005 to acquire and develop natural gas gathering and processing assets. Laser’s initial investment was the Panola gathering system in East Texas. Subsequently, Laser acquired the Texas and Louisiana assets of OptiGas and the South Texas assets of HESCO. Laser management was successful in attracting new gas to these systems, and completed several expansion projects after the systems were acquired. In 2007, the majority of Laser’s midstream assets were sold to an affiliate of Duke Energy Services and Eagle Rock Energy Partners (subsequently acquired by Vanguard Natural Resources OTC: VNRR).

ESP IV

Midstream Energy Services

Midstream Energy Services (“MES”) was formed in 2005 to pursue acquisition and greenfield development opportunities with a focus in the Mid-Continent area. The Company’s primary assets included its initial acquisition of the Keyes natural gas gathering and treating systems located in the Oklahoma Panhandle, Texas Panhandle, and southeast Colorado, as well as the Grey Badger natural gas processing and treating plant in Carson County (Texas Panhandle), which it constructed and brought online in the summer of 2008. MES also acquired and/or developed other assets in Oklahoma, Louisiana, and Illinois. In 2013, the Company was sold to High Point Energy.

ESP II/III

CES Acquisition Corp.

In February 2001, Energy Spectrum invested in CES Acquisition (“CES”), an infrastructure development company with an emphasis on projects in power generation. Energy Spectrum’s equity enabled CES to acquire the independent power business of Montana Power Company. CES’ assets included ownership interests in five power plants with net interests of 438 MW of generation. In July 2005, Energy Spectrum sold its interest in CES as part of a recapitalization of the Company.

ESP II/III

Clipper Windpower

In April 2002, Energy Spectrum invested in Clipper Windpower (“Clipper”), a leader in the rapidly expanding renewable energy sector. Clipper was active in developing and operating wind-powered turbines and related projects. During the time of Energy Spectrum’s ownership, Clipper developed several U.S. and international wind power sites and established production of its Liberty 2.5 MW wind turbine. In September 2005, Clipper completed an initial public offering on the London AIM stock exchange. After the shares became public, Energy Spectrum subsequently divested its holdings of the Company.

ESP II/III

Falcon Gas Storage Company

In October 2000, Energy Spectrum invested in Falcon Gas Storage (“Falcon”). Falcon developed, owned, and operated high deliverability, multi-cycle (“HDMC”) gas storage facilities. Falcon’s experienced team had previous success in developing gas storage projects. During Energy Spectrum’s investment period, Falcon upgraded its Texas Hill-Lake facility to HDMC capability. In July 2005, Energy Spectrum sold its interest in Falcon as part of a recapitalization of the Company.

ESP II/III

Frontier Field Services

In May 2003, Energy Spectrum and Frontier Energy Services formed Frontier Field Services (“Frontier”) to be a growth platform in the midstream sector providing gathering, processing, treating, compression and marketing services. Frontier established operations in southeastern New Mexico by acquiring the 60 mmcf/d Maljamar atural Gas Processing Plant and related 650-mile gathering system from ConocoPhillips. Frontier also had operations in Southwest Oklahoma and the Texas Panhandle. In June 2004, Frontier was acquired by Aka Energy Group, an affiliate of the Southern Ute Indian Tribe.

ESP II/III

Pueblo Midstream Gas Corporation

In June 2000, Energy Spectrum formed Pueblo Midstream Gas (“Pueblo”) as a platform company to acquire and consolidate midstream assets in the South Texas region. Pueblo acquired an operating interest in the 70 mmcf/d Fashing gas plant and gathering system in South Texas and constructed a new pipeline system in North Texas. In September 2003, Pueblo was acquired by Bear Cub Energy.

ESP II/III

Spectrum Field Services

In May 2000, Energy Spectrum formed Spectrum Field Services (“SFS”) to acquire the Velma gas processing plant from Texaco, which had processing capacity of 100 mmcf/d and 1,900 miles of related natural gas gathering pipelines in South Central Oklahoma. SFS management increased the volumes through the system and upgraded the plant resulting in reduced operating costs. SFS was acquired by Atlas Pipeline Partners, a subsidiary of Targa Resources (NYSE: TRGP), in July 2004.

ESP II/III

The Seminole Group

In August 2000, Energy Spectrum invested in The Seminole Group (whose name later changed to SemGroup) (“SemGroup”), which was engaged in diversified services for the North American crude oil and refined products industry. SemGroup’s operations included gathering, transportation, marketing and hedging services. The Company also owned and operated proprietary and common carrier pipelines, oil transports, pipeline injection stations and terminal-owned storage. SemGroup grew rapidly through a series of follow-on acquisitions in the U.S. and Canada. In April 2004, Energy Spectrum sold its interest in SemGroup as part of a recapitalization of the Company.

ESP I

Alberta Hub Joint Venture

In January 1997, Energy Spectrum acquired a joint venture interest in the Alberta Hub (“Alberta Hub”) natural gas storage and market facility, which is connected to the NOVA system near Edson, Alberta. The storage facility had over 30 billion cubic feet of working gas capacity and very high daily injection/withdrawal capability. The facility provided physical natural gas storage, parking, loaning, exchange, intra-hub transfers and other gas services for producers, marketers, utilities and other end users of natural gas. The Alberta Hub provided buyers and sellers a gas marketplace with more options for storing and trading gas than were previously available. Energy Spectrum’s wholly owned subsidiary, Energy Spectrum Canada, joined Sabine Hub Services, a division of Texaco, and Niton Hub Services Company, a subsidiary of Dominion Energy, in forming the joint venture. Energy Spectrum sold its interest in the Alberta Hub to Unocal Canada, a subsidiary of Chevron Corp (NYSE: CVX) in March 2000.

ESP I

Allis Chalmers, Inc. / STRATA

In August 1997, Energy Spectrum made an initial investment in STRATA Directional Technology (“STRATA”), a Gulf Coast focused directional drilling and wireline company. Energy Spectrum’s equity provided STRATA with the means to expand their asset base platform and consolidate independent gulf coast directional drilling companies. In 1998, STRATA acquired Taylor Directional & Horizontal, Inc., a Gulf Coast provider of directional and horizontal drilling services. Also in 1998, STRATA purchased Production Well Testers, Inc., an offshore Gulf Coast-focused provider of well testing services. In early 2002, Allis Chalmers Corporation (“ACLM”), an oilfield services company, acquired STRATA. Energy Spectrum sold its interest in ACLM in 2004 and 2005.

ESP I

Bayard Drilling Technologies

Bayard Drilling Technologies (“Bayard”) was formed by Energy Spectrum and AnSon Partners Limited Partnership in December 1996 to expand the contract drilling operations previously conducted by Anadarko Drilling Company, an AnSon affiliate. Bayard completed seven separate acquisitions to become the fifth largest land rig operator in the U.S. by year-end 1997. Bayard completed an initial public offering in November 1997. In April 1999, Bayard merged with Nabors Industries (NYSE: NBR), the largest onshore land rig company. Bayard shareholders received NBR shares and cash. Energy Spectrum subsequently sold all of its NBR shares.

ESP I

Canadian Midstream Services

In July 1999, Energy Spectrum invested in Canadian Midstream Services (“CMSL”), a provider of gas gathering, compression, treating and processing services to energy producers in western Canada. CMSL’s strategy was to expand its asset base by acquiring and developing additional midstream assets in western Canada. CMSL originally acquired an interest in the Brazeau River Gas Plant in Alberta along with all of the gathering and compression systems that served the plant. In the first quarter of 2000, CMSL doubled its size with the acquisition of the Peggo Pesh processing and gathering assets in Northeast British Columbia from TransCanada Midstream. In September 2000, CMSL acquired the Nevis sour gas plant from Western Facilities Fund, resulting in net processing capacity in excess of 330 MMcfd. CMSL was sold to Duke Energy Midstream Services Canada in May 2001.

ESP I

Spectrum Rotary Compression

In February 1998, Energy Spectrum formed Spectrum Rotary Compression (“SRC”) to own and operate a fleet of rotary compressor packages for long-term rental and sale to natural gas producers and gatherers. Rotary compressors (also referred to as “screw” compressors) offer operational advantages over traditional reciprocating compressors in low-pressure applications. In April 2000, SRC was merged into Universal Compression Holdings, Inc., which subsequently completed an initial public offering. Energy Spectrum subsequently sold its Universal shares. In 2007, Universal Compression merged with Hanover Compressor Company to form Exterran Corporation.

ESP I

Sulphur River Gathering

In October 1998, Energy Spectrum invested in Sulphur River Gathering (“SRG”), which was formed to own and operate natural gas gathering, treating and processing assets in East Texas. SRG tripled in size through a series of acquisitions in 1998 and 1999. In October 1998, SRG acquired certain plant and pipeline assets from Koch Midstream Services, Inc. In December 1998, SRG purchased a treating and processing plant from Shell/Tejas, which significantly increased long-lived dedicated volumes to the SRG system. In 1999, SRG made its largest acquisition, acquiring four treating and processing plants, compressor stations and associated pipe from Dynegy, which allowed it to consolidate its treating and processing into its state-of-the-art plants, thereby enhancing system efficiency. In 2001, SRG further expanded its system and increased dedicated volumes to its system by acquiring a treating and processing plant from an East Texas producer. In March 2002, SRG sold substantially all of its assets to Enbridge Energy Partners (NYSE: EEP).

ESP I

Pinnacle Natural Gas Company

Energy Spectrum acquired Pinnacle Natural Gas Company (“Pinnacle”) in April 1997. Pinnacle owned and operated over 50 natural gas gathering and transportation systems, primarily in West Texas, eastern New Mexico, Louisiana and Mississippi. Energy Spectrum provided new equity and access to financing to enable Pinnacle to pursue its growth objectives. During 1998, Pinnacle doubled its asset base through acquisitions and new construction projects. In early 2000, Pinnacle completed construction and commenced operations of a 33-mile, 18-inch pipeline to supply gas to Southern Energy’s Lake Whitney electrical generating facility. In March 2003, Pinnacle was acquired by MarkWest Energy Partners, a subsidiary of MPLX (NYSE: MPLX).

ESP I

Tobin International

For more than 70 years, Tobin International has been the standard for oil and gas industry maps. Tobin led the transformation of the industry from paper lease maps to digital maps coupled with information databases, satellite imagery and geographic information systems (“GIS”). In December 1998, Energy Spectrum invested in Tobin, enabling it to acquire Innovative Business Solutions (“IBS”). IBS provided land and lease management software for the oil and gas industry. In December 2003, Tobin merged with P2 Energy Solutions, Inc. (“P2ES”), a subsidiary of Petroleum Place. Energy Spectrum sold its interest in P2ES in March 2005.