Capital Markets
Company Overview of First Reserve Corporation
Company Overview
290 Harbor Drive
Stamford
Greenwich, CT 06902
United States
Founded in 1983
Key Executives for First Reserve Corporation
First Reserve Corporation Key Developments
LineStar Integrity Services, LLC continues to pursue organic and acquisitive growth initiatives in mission-critical midstream integrity maintenance, supported by its partner, First Reserve Corporation.
PetroShale (US), Inc. is seeking acquisitions. Petroshale is raising $75 million (the "Financing") with First Reserve Corporation. PetroShale intends to use the net proceeds of the Financing to fund: (i) capital expenditures; (ii) the non-permanent repayment of its outstanding senior loan balance; (iii) the repayment and retirement of its outstanding subordinated loan; (iv) future potential acquisition opportunities; and (v) general corporate purposes.
First Reserve announced the promotion of four senior investment professionals. Brooks Shughart was promoted to Managing Director. Since joining the firm in 2012, Brooks has made significant contributions to First Reserve's global Resources portfolio. He is based in the company’s Houston office. Edward T. Bialas was promoted to Managing Director. Since joining the firm in 2003, Ed has been a leading contributor to the company’s Equipment and Services and Midstream/Downstream portfolio, with key roles in the company’s investments in Power Well Services, Dresser-Rand, Diamond S Shipping, AFGlobal, Hoover Ferguson Group and Vista Proppants & Logistics. He is based in the company’s Houston office. Jesse Krynak was promoted to Director. Since joining the firm in 2010, Jesse has been a key member of the portfolio company teams responsible for several investments throughout First Reserve's core investment energy subsectors "Resources, Equipment & Services, and Midstream/Downstream. He is based in the company’s Houston office. David M. McFarland was promoted to Director. Since joining the firm in 2010, David has been a key member of the portfolio company teams responsible for several investments in the Midstream/Downstream and Equipment & Services sectors, including Crestwood Permian Basin Holdings LLC, KA First Reserve, Western Gas Partners, Plains All American, Phillips 66 Partners, and Saxon Energy Services (in partnership with Schlumberger). As a Director, David will continue to help drive diversified investments throughout the global energy value chain. He is based in the company’s Houston office.
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