In November 2007, Laser Midstream Energy II (“Laser II”) was formed to pursue opportunities in the midstream natural gas business with a primary focus on acquiring and expanding underutilized systems in mature areas. Laser II’s primary project was a greenfield Marcellus Shale natural gas gathering project in Susquehanna County, PA (“Laser Northeast”). In July 2010, the Laser Northeast assets were sold to Delphi Midstream Partners, a subsidiary of Williams Partners (NYSE: WPZ). In addition to the Laser Northeast assets, Laser II also identified and reactivated several acquired idle crude pipelines primarily located in Texas and Louisiana, which it sold in 2014 and 2015 in separate regional packages.
Laser II was second partnership between management and Energy Spectrum.