Group commits more than $300 million to form new Tulsa energy company, Intensity Midstream LLC
Two veterans of Hiland Partners are reunited to form a new Tulsa-based oil and gas pipeline, storage and processing firm.
Joseph Griffin and Derek Gipson are founding Intensity Midstream LLC. The plan is to build or acquire and develop energy transportation, terminal and treatment assets connected to North America basins.
The new company is stepping in the midst of an industry-wide downturn, with oil prices falling 50 percent over the past year. Griffin said Intensity was launched with the knowledge that some companies may be willing to sell assets in the near future.