Cavalcade Midstream

What Cavalcade Midstream does

Cavalcade Midstream is a privately held, full-service U.S. midstream company headquartered in San Antonio, Texas, focused on developing infrastructure for crude oil, natural gas, and produced water to serve oil and natural gas producers. The company was co-founded in 2018 by Rich Reynolds (CEO) and Hunter Thunell (President and Chief Commercial Officer), both of whom previously held senior roles at NuStar Energy where they were involved in the $1.5 billion acquisition of Navigator Energy Services and managed strategic, legal, and corporate development functions in the Permian Basin. Cavalcade operates three core service lines: crude oil gathering, transportation, and storage; natural gas gathering, processing, and transportation; and produced water gathering and disposal. Its value proposition centers on tailored, flexible, and reliable midstream solutions delivered through long-term producer relationships built on transparency and stewardship, with a stated emphasis on creative financing structures enabled by strong capital-provider relationships.

The company's go-to-market is enterprise field sales, with its executive team engaging oil and gas producers directly using their industry relationships to source and develop infrastructure projects. Revenue is generated through transaction or volume-based fees tied to the movement, processing, or disposal of hydrocarbons and water on Cavalcade's systems, with pricing negotiated individually rather than publicly disclosed. The company has secured meaningful institutional backing: in December 2018 it closed a $150 million funding round from a four-investor syndicate including Irving Place Capital, Old Ironsides Energy, and Pearl Energy Investments, with Old Ironsides serving as a co-founding financial partner whose Managing Partner Sean O'Neill publicly endorsed the company's strategy. Headcount is reported at 1–10 employees, consistent with an early-stage infrastructure platform where capital is the primary scaling input rather than labor.

Name

Cavalcade Midstream

Legal name

Cavalcade Midstream

Website

https://cavalcademidstream.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Cavalcade Midstream is a privately held, full-service U.S. midstream infrastructure company serving oil and gas producers with crude oil, natural gas, and produced water gathering, processing, transportation, and storage services across the United States.

Ownership category

akta.pro rank

Product category

Oil and Gas Midstream Services

NAICS

Pipeline Transportation of Crude Oil (486110), Pipeline Transportation of Crude Oil (4861), Pipeline Transportation of Natural Gas (4862), All Other Pipeline Transportation (48699)

SIC

Natural Gas Transmission (4922), Pipe Lines (No Natural Gas) (4610), Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Midstream Commercial Services (Capacity Marketing, Balancing & Scheduling) (EUAAACAL)

akta.pro secondary industry

Gas Pipeline & Midstream Asset Management (EUAEAMAF)

Keywords

• Midstream infrastructure
• Oil and gas services
• Crude oil gathering
• Natural gas processing
• Produced water disposal

Headquarters

HQ city

San Antonio

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Marketing or Sales

Revenue model

1. Midstream Infrastructure Services: Revenue generated from providing midstream services including crude oil gathering, transportation and storage; natural gas gathering, processing and transportation; and produced water gathering and disposal. These are typically transaction or volume-based services provided to oil and gas producers.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Cavalcade Midstream is a full-service midstream company providing infrastructure services to support the oil and natural gas industry in the United States. It operates three core service lines: crude oil gathering, transportation and storage; natural gas gathering, processing and transportation; and produced water gathering and disposal, offered as an integrated portfolio to oil and gas producers requiring tailored midstream solutions.

Product overview

Cavalcade Midstream is a full-service midstream company providing infrastructure services to support the oil and natural gas industry in the United States. The company operates three core service lines: Crude Oil Gathering, Transportation & Storage; Natural Gas Gathering, Processing & Transportation; and Produced Water Gathering & Disposal. These services are offered as an integrated portfolio to provide creative, flexible, and reliable midstream solutions for customers.

Differentiator

Problem solved

Functional benefit

Products and services

• Crude Oil Gathering, Transportation & Storage
• Natural Gas Gathering, Processing & Transportation
• Produced Water Gathering & Disposal

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves4 records

Expansion highlights4 records

Direct peers

• Plains All American Pipeline: Major U.S. crude oil midstream operator providing gathering, transportation, and storage — directly comparable to Cavalcade's crude oil gathering, transportation, and storage service line.
• Targa Resources: Midstream operator focused on natural gas gathering, processing, and NGL transportation across key U.S. basins — directly comparable to Cavalcade's natural gas gathering, processing, and transportation service line.
• Energy Transfer: Diversified midstream operator with crude, natural gas, and NGL transportation assets nationwide — comparable across Cavalcade's full-service midstream offering and a likely competitor for producer dedications.
• Western Midstream Partners: Permian-focused midstream operator providing crude oil and natural gas gathering, processing, and transportation — closely comparable given Cavalcade's NuStar Permian heritage and producer-focused strategy.
• Crestwood Equity Partners: Smaller-cap, growth-oriented midstream operator with gathering, processing, and water solutions across U.S. basins — closest in size and growth profile to Cavalcade and a directly comparable business model.
• Genesis Energy: Midstream operator providing crude oil and natural gas infrastructure, including produced water handling in the Gulf Coast and Permian — comparable to Cavalcade's produced water gathering and disposal capability.
• NuStar Energy (now part of Sunoco LP): Midstream operator where Cavalcade's founders built their careers and led the $1.5B Navigator Energy Services acquisition — most relevant peer for the founders' background and Permian operating playbook.
• Holly Energy Partners: Midstream operator focused on crude oil transportation, storage, and terminals — comparable to Cavalcade's crude oil gathering, transportation, and storage service line.

Broad incumbents

• Enterprise Products Partners: One of the largest U.S. midstream operators with crude oil, natural gas, and NGL services — comparable integrated midstream footprint to Cavalcade's three-stream model, but at vastly greater scale.
• ONEOK: Large midstream operator with natural gas gathering/processing and NGL transportation — comparable to Cavalcade's natural gas and NGL-adjacent service lines and a credible competitor for capital and producer relationships.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cavalcade Midstream