Caliber Midstream is an independent, growth-oriented energy infrastructure company that provides a full suite of midstream services to producers in the Bakken and Three Forks shale oil plays. We are focused on developing innovative, cost-effective and efficient solutions developed synergistically, to handle a producer's molecules, not just their hydrocarbons. Caliber's services include crude oil and natural gas gathering, transportation, treating and processing; produced water transportation and disposal in Caliber operated injection wells; and freshwater sourcing and transportation by pipeline linked to various points of supply. Caliber's initial asset base is strategically located in McKenzie County, North Dakota — in the heart of the developing, economically-established Bakken and Three Forks shale oil plays. Caliber also has a growing presence in Williams County.
Caliber is led by a customer-focused and experienced management team with a unique and proven blend of technical, commercial, financial, land and regulatory experience. Funded in October 2012, the company is a joint venture supported by an initial total of $180 million in equity capital contributions from First Reserve and Triangle Petroleum Corporation (NYSE MKT: TPLM). Caliber subsequently announced a $200 million leverage-based credit facility on December 18, 2013, increasing its ability to fund its capital projects. Caliber is a long-term vision for both First Reserve's Energy Infrastructure Fund and Triangle who envision making additional capital contributions as Caliber continues to grow. With more than $31 billion in aggregate capital raised over 35 years, First Reserve is the oldest and largest global private equity firm focused exclusively on energy. The firm's Energy Infrastructure Fund has a long-term focus. Caliber's affiliation with First Reserve provides a long-term and ongoing source of capital from a highly regarded and well established financial partner in addition to access to the firm's large industry network.