Rover Pipeline Valuation, Funding & Investors

Rover Pipeline is valued at $3.1B as of July 2017.

Last Rover Pipeline valuation

$3.1B

Strategic investment · Jul 2017

Last Rover Pipeline funding round

$1.6B

Strategic investment · Jul 2017

Cumulative funding Rover Pipeline raised

$1.6B

across 1 funding round

Key investors in Rover Pipeline

Rover Pipeline Overview

About Rover Pipeline

Rover Pipeline is a United States natural gas pipeline company, formed by Energy Transfer to move Marcellus and Utica shale gas to markets. The roughly 700-mile pipeline is designed to carry about 3.25 billion cubic feet per day from the Appalachian shale areas to Midwest and Gulf Coast markets and to the Union Gas Dawn Hub in Ontario, Canada. Rover Pipeline LLC is owned 65 percent by a holding company, ET Rover Pipeline, with the remainder held by other investors. Energy Transfer operates the system, whose first phase began carrying more than one billion cubic feet per day from Cadiz to Defiance, Ohio, in 2017. Construction cost for the project was about $4.2 billion.


HQ

United StatesDallas

Status

Privately held

Customer focus

B2B

Revenue model

Services

Valuation

$3.1B (Jul 2017)

Rover Pipeline Valuation

Rover Pipeline is currently valued at $3.1B, based on its strategic investment round in July 2017. Read the announcement ↗

The $1.6B round included Blackstone.

Rover Pipeline valuation by funding round

Rover Pipeline valuation by funding round
DateStageValuation
Jul 2017Strategic investment$3.1B

Rover Pipeline Funding History

Rover Pipeline has raised a total of $1.6B across 1 funding round.

Rover Pipeline funding rounds

Rover Pipeline funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2017Strategic investmentBlackstone$1.6B$3.1BOn 31 July 2017, Energy Transfer Partners announced that its subsidiaries had agreed to sell a 49.9 percent interest in ET Rover Pipeline, the holding company that owns 65 percent of Rover Pipeline LLC, to funds managed by Blackstone Energy Partners and Blackstone Capital Partners. Blackstone agreed to contribute approximately $1.57 billion in cash, which reimburses Energy Transfer for its share of construction costs incurred to closing, funds specified future construction costs and covers certain additional payments. After closing the holding company would be owned 50.1 percent by Energy Transfer and 49.9 percent by Blackstone, which equates to about a 32 percent look-through interest in the pipeline. Energy Transfer said it would use the proceeds to repay debt and fund growth projects, reducing its need to issue equity. The sale closed on 31 October 2017. Rover is a roughly 700-mile pipeline built to carry about 3.25 billion cubic feet of Marcellus and Utica gas per day to US markets and the Dawn Hub in Ontario, at a project cost of about $4.2 billion. Latham and Watkins advised Energy Transfer, and Vinson and Elkins, Intrepid Partners and Morgan Stanley advised Blackstone.

Who has invested in Rover Pipeline?

1 investor has backed Rover Pipeline across its funding rounds, including Blackstone.


Rover Pipeline Investors

Investors in Rover Pipeline by funding rounds participated
InvestorHQRoundsRoleFirst check

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Rover Pipeline Competitors

Rover Pipeline competitors include listed companies like Jiangxi Jovo Energy, Topaz Energy, Teekay Tankers and SunocoCorp, and private ones like TANAP and Hyundai Oilbank.

Public and private companies comparable to Rover Pipeline
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Jiangxi Jovo EnergyChinaChinaPublicly listed$3B$291M$3B0.9x
Topaz EnergyCanadaCanadaPublicly listed$232M-$3.5B13.2x
Teekay TankersUnited StatesUnited StatesPublicly listed$952M$407M$3.5B2.2x
SunocoCorpUnited StatesUnited StatesPublicly listed$25B$1.8B$3.7B0.5x
TANAPTurkeyAnkaraPrivate--$4B-
Hyundai OilbankSouth KoreaCheongjuPrivate$18B-$8.8B0.5x
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
CES Energy Solutions$1.8B$282M2.0x1.7x12.4x10.3x
Mesaieed Petrochemical$151M-20.5x---
Black Stone Minerals$422M$346M8.7x7.7x10.6x10.9x
Mangalore Refinery$9.3B$664M0.4x0.4x6.3x5.0x
International Petroleum Corp$772M$215M4.8x4.3x17.3x11.8x
Delek Logistics$1B$369M5.6x4.2x15.3x10.4x
Talos Energy$1.8B$740M2.1x1.7x5.0x2.6x
Northern Oil & Gas$2.1B$1B2.7x2.3x5.4x3.6x

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Common questions about Rover Pipeline

Where is Rover Pipeline headquartered?Rover Pipeline is headquartered in Dallas, United States.
Is Rover Pipeline publicly listed?No, Rover Pipeline is a private, VC-backed company.
What is Rover Pipeline's valuation?Rover Pipeline was last valued at $3.1B in its strategic investment round in July 2017.
How much funding has Rover Pipeline raised?Rover Pipeline has raised $1.6B across 1 funding round.
What was Rover Pipeline's last funding round?Rover Pipeline's last funding round was a $1.6B strategic investment round in July 2017.
Who are Rover Pipeline's investors?Rover Pipeline's investors include Blackstone.
Which companies are comparable to Rover Pipeline?Companies comparable to Rover Pipeline include Jiangxi Jovo Energy, Topaz Energy, Teekay Tankers, SunocoCorp, TANAP and Hyundai Oilbank.

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