Mora Energy Launches with $250 Million in Equity Commitments, Backed by NGP and Old Ironsides Energy
In a major move that reinforces investor confidence in the long-term potential of energy infrastructure, Mora Energy Holdings, LLC (“Mora Energy” or “Mora”) has officially announced its formation alongside a successful capital raise totaling more than $250 million in initial equity commitments. These commitments come from funds managed by two highly regarded energy investment firms—NGP Energy Capital Management, LLC (“NGP”) and Old Ironsides Energy, LLC (“OIE”)—as well as from Mora’s own management team.
The launch of Mora Energy marks a strategic evolution of the experienced LM Energy team, which has now rebranded and repositioned itself under the new Mora banner. Known for its adept handling of oil and natural gas midstream assets in the Permian Basin, the LM Energy group garnered industry recognition for its execution, innovation, and ultimately, its monetization strategy. That success now serves as the foundation for Mora Energy’s next phase of growth as it seeks to develop, acquire, and operate energy infrastructure across a wide range of U.S. producing regions.
A New Chapter for a Proven Team
Central to Mora Energy’s emergence is its seasoned leadership team. The core group responsible for LM Energy’s achievements remains intact, ensuring continuity in strategic vision and operational excellence. In addition, the team has been significantly strengthened with the appointment of Drew Bredthauer as President of Mora Energy. Bredthauer previously served as Chief Commercial Officer of WTG Midstream, where he helped lead the company through a successful transaction with Energy Transfer.
This leadership team brings decades of experience in developing, scaling, and optimizing midstream infrastructure, particularly in major U.S. oil and gas basins such as the Delaware and Midland sub-basins of the Permian, as well as East Texas, Louisiana, South Texas, and the DJ Basin. With their deep understanding of commercial dynamics, regulatory frameworks, and the technical demands of pipeline and processing infrastructure, Mora’s leadership is poised to execute at a high level in the rapidly evolving energy sector.
Strategic Capital and Vision
“To succeed in the current environment requires an execution-ready team and a significant amount of capital,” said Elliot Gerson, Chief Executive Officer of Mora Energy. “With the addition of Drew, our already excellent team is even stronger. And our partnership with both NGP and OIE immediately offers us substantial equity capital and financial flexibility. We are extremely well positioned to capitalize on the growing demand for high-quality energy infrastructure and to provide our customers with creative, reliable, and safe solutions.”
This capital backing is not just a vote of confidence in Mora’s strategic direction but also a signal to the market that investors are betting big on midstream infrastructure as a vital component of the future energy landscape. The $250 million infusion provides Mora with a robust platform to pursue a variety of asset development and acquisition opportunities—especially those that demand agility, innovation, and execution at scale.
Why Midstream Still Matters
While the broader energy transition narrative continues to gain momentum—with increasing emphasis on renewable energy and decarbonization—midstream oil and gas infrastructure remains an essential component of the global energy supply chain. Pipelines, processing facilities, and storage systems enable the efficient and safe movement of hydrocarbons from production sites to end markets, including refineries, export terminals, and power generation facilities.
In this context, Mora Energy is entering the market at a time when both traditional and emerging energy markets require enhanced infrastructure capabilities. From managing increasing volumes in core shale plays to adapting facilities for carbon management and hydrogen blending, midstream operators are facing complex technical and commercial challenges. Mora’s goal is to meet those challenges head-on with tailored solutions and a long-term, partnership-driven mindset.
Backers With Deep Sector Knowledge
NGP and Old Ironsides Energy are not new players in this space, and both bring extensive experience and long-standing relationships with the Mora team.
“We are thrilled to partner with the Mora team for their latest midstream venture,” said Brian Seline, Partner at NGP. “We have long-standing relationships with Elliot and Drew and have followed their success over many years. We believe the Mora team has one of the best track records in midstream and is well-positioned to be successful in the current environment. The team possesses the right operational and commercial skillsets to execute at the highest level.”
NGP, headquartered in Irving, Texas, is one of the energy sector’s most active and influential private equity investors, with a portfolio spanning upstream, midstream, and energy transition assets. Its backing of Mora underscores a continued belief in the importance of experienced management teams capable of executing under diverse market conditions.
Similarly, Old Ironsides Energy has a long history with Mora’s leadership. Sean O’Neill, Managing Partner of OIE, commented on the new collaboration: “We are proud to establish our third partnership with Elliot and the Mora team. Over the past decade, we’ve seen firsthand how the Mora team has built and operated premier midstream infrastructure to meet the evolving needs of its upstream customers and partners. Our investment strategy is rooted in long-term alignment with high-quality partners like Mora. Mora Energy is a first-class team, well-positioned to capitalize on midstream opportunities in today’s environment.”
Old Ironsides Energy has built its reputation on fostering strong, enduring relationships with management teams that prioritize operational excellence and strategic discipline. The firm’s continued partnership with Gerson and his team speaks volumes about its confidence in Mora’s vision and execution capabilities.
Growth in a Transforming Industry
Mora Energy’s focus will span both traditional midstream opportunities and the next generation of infrastructure needs that are emerging in response to decarbonization and electrification trends. The company is evaluating a broad array of projects, including gathering and processing systems, pipeline buildouts, storage terminals, and carbon capture-compatible infrastructure.
The Permian Basin, long considered the crown jewel of U.S. shale plays, remains a focal point due to its prolific production and ongoing infrastructure needs. However, Mora is also actively evaluating opportunities in underbuilt regions or in plays that are beginning to recover after years of underinvestment.
What sets Mora apart, according to industry observers, is its ability to bring projects from concept to operation with speed, capital efficiency, and stakeholder alignment. In an era when energy development faces heightened scrutiny and regulatory complexity, Mora’s ability to deliver fit-for-purpose infrastructure with minimal disruption and maximum reliability could become a key differentiator.
