Venture Capitalist Emerges to Aid Storage Developers

Deck: 

Larry Bickle, Managing Director of Haddington Ventures

Fortnightly Magazine - March 1 2002
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What does Haddington Ventures find appealing about investing in storage?

When you deregulate an industry, generally what you get over time periods is lower average prices but higher volatility in the commodity price. The second step in the logic is higher volatility implies more value for storage because there are more opportunities to buy low and more opportunities to sell high. That's the value proposition of why we like storage.

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In what types of storage does Haddington like to invest?

We're not developing any traditional reservoirs. Lodi is a reservoir but a very unusual reservoir, very similar in its geologic properties to Michigan reef play. The focus point for us is not so much salt versus traditional, as it is very high turnover storage facilities where you can take all of the gas out in 10 to 20 days.

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