Company

Pinnacle Midstream II LLC

Texas-based oil and gas midstream company providing gathering, processing and storage services in the Midland Basin.

About

Pinnacle Midstream II LLC was established in 2014 and is based in Texas, US, at the Series B stage. It was founded by CEO J. Greg Sargent. The company offers Midland Basin producers natural gas gathering and processing, crude oil gathering, stabilization, trans-loading and storage, and produced water handling and saltwater disposal. In May 2024, Phillips 66 Company, a portfolio company of Elliott Management, agreed to acquire it for USD 550 million in cash, with closing expected in mid-2024.

2Funding rounds

2Investors

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