NEW YORK — November 21, 2017

Investment funds managed by Morgan Stanley Energy Partners (collectively, “MSEP”), part of Morgan Stanley Investment Management, and Houston, Texas-based Durango Investment Holdings LLC (“Durango Midstream” or the “Company”) announced today a strategic partnership whereby MSEP has made a majority equity investment in Durango Midstream to support the growth of the Company’s midstream businesses in the Midcontinent region of the United States. Terms of the transaction were not disclosed.

Durango Midstream is a leading natural gas gathering, processing and marketing company providing world-class midstream services to oil and gas producers in Texas, Oklahoma, and Kansas. The partnership with MSEP provides the Company with additional resources to upgrade and expand Durango Midstream’s existing asset base and capabilities. The Company’s initial growth projects are expected to focus on expansion of its gathering and processing system in Grady County, Oklahoma to support producers active in the rapidly growing Merge-SCOOP-STACK plays of Central Oklahoma.

Robert Lee, Managing Director of Morgan Stanley Energy Partners, said, “We are delighted to partner with Durango Midstream – given its exceptional team, strategic asset base and the attractive opportunities presented by nearby oil and gas activity, the business is uniquely positioned for growth.”

Durango Midstream is led by Richard A. Cargile, President and Chief Executive Officer. Mr. Cargile has decades of operating experience in the midstream business. He most recently served as President of Midstream Operations at Energy Transfer Partners, L.P. Mr. Cargile said, “We are excited about our strategic partnership with Morgan Stanley Energy Partners. Their global network and sterling reputation and their history of success in the energy business will help us accelerate our growth plans in the Midcontinent and expand into other leading oil and gas basins in the United States. We look forward to supporting our current and future customers with additional midstream infrastructure and world-class service.”

John Moon, Managing Director and Head of Morgan Stanley Energy Partners, added, “Morgan Stanley Energy Partners always seeks to partner with leaders in the field, and Rick and the Durango team exemplify best in class management. We look forward to shared success in the years to come.”

About Durango Midstream

Headquartered in Houston, Texas, Durango Midstream is a leading natural gas gathering, processing, and marketing company providing world-class midstream services to oil and gas producers in Texas, Oklahoma, and Kansas. For further information about Durango Midstream, please contact info@durangomidstream.com.

About Morgan Stanley Energy Partners

Morgan Stanley Energy Partners, the energy-focused private equity business of Morgan Stanley Investment Management, is a leading energy private equity platform that makes privately negotiated equity and equity-related investments in energy companies located primarily in North America. Morgan Stanley Energy Partners pursues a differentiated investment strategy, focused on the buyout and build-up of strategically attractive, established energy businesses across the energy value chain in partnership with world-class management teams. For further information about Morgan Stanley Energy Partners, please visit www.morganstanley.com/im/energypartners.

About Morgan Stanley Investment Management

Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 600 investment professionals around the world and $447 billion in assets under management or supervision as of September 30, 2017. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations, and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.

About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.

Media Relations: Lauren Bellmare, 212.761.5303