Structure

Company Structure

Stonehenge Energy Resources II, L.P. is a limited partnership, formed in 2012, based in Westminster, Colorado (near Denver).  See diagram here.

  • The General Partner is 3MG Enterprises II, LLC. 3MG is owned by the principals of Stonehenge and the owners of Kahuna Ventures LLC.  Kahuna is a midstream engineering enterprise headquartered in Westminster, Colorado.
  • The Limited Partners are Energy Spectrum Partners VI LP and Energy Spectrum Partners VII LP, the sixth and seventh midstream equity funds of Energy Spectrum Capital. Energy Spectrum is a private equity firm, located in Dallas, focused exclusively on the energy industry. It has managed and currently manages cumulatively $3.5 billion.
  • Stonehenge Energy Resources II L.P. owns Stonehenge Energy Holdings, LLC which holds Stonehenge Appalachia, LLC and 60% of Stonehenge Laurel Gathering, LLC.  The operating companies own and operate gathering and compression facilities serving natural gas producers in Butler and Clarion Counties, Pennsylvania.

Stonehenge designs, builds, owns and operates midstream facilities to support its producer-partners in the optimum development of their resources.

  • Financial and technical backing from two proven companies:
    • Energy Spectrum Capital, a leading midstream-focused private equity firm.
    • Kahuna Ventures, a full-service midstream engineering consulting firm.
  • The Stonehenge mission is to support its producer-customers:
    • Respond quickly to new facility needs.
    • Maintain industry-best online times.
    • Maximize the value received for the commodity production.
  • Open to various deal structures: Fee-based, revenue sharing, combination.
  • Success in the Pennsylvania Marcellus provided an experience platform to build on:
    • Stonehenge Energy Resources, L.P. was formed in 2007, and in 2009 Keystone Midstream Services, LLC was created to gather and process NGL-rich gas.
    • Minority owners of Keystone were producers Rex Energy and Sumitomo Corporation.
    • Two cryogenic processing plants, compression and pipelines were built and operated, supporting the early development in Butler County, Pennsylvania.
    • Keystone was sold to MarkWest for $512 million in 2012.

Stonehenge has 10 employees, and a virtual organization much larger.  The owner-managers of Stonehenge include the following:

Patrick A. Redalen, President, Stonehenge Energy Resources II, L.P.
Charles E. Wilkinson, Principal, Stonehenge Energy Resources II, L.P.
Heather A. Geiger, Director of Projects, Stonehenge Energy Resources II, L.P.

The Executive Committee of Stonehenge is comprised of two representatives each from the General Partner and the Limited Partners:

3MG Enterprises II, LLC – General Partner

Gary W. Davis
President, Kahuna Ventures LLC
Partner, 3MG Enterprises II, LLC

John H. Rheinheimer
Vice President, Project & Construction Management, Kahuna Ventures, LLC
Managing Partner, 3MG Enterprises II, LLC

Energy Spectrum Partners VI LP and Energy Spectrum Partners VII LP – Limited Partner

Thomas O. Whitener
President, Energy Spectrum Capital

Peter W. Augustini
Partner, Energy Spectrum Capital