EnCap Flatrock Midstream

EnCap Flatrock Midstream, established in 2008 and headquartered in San Antonio, Texas, is a private equity firm focused on the midstream sector of North America's oil and gas industry. The firm specializes in identifying and investing in energy-related businesses, particularly in oil and gas drilling, field services, exploration, production, and various infrastructure operations, including natural gas gathering, processing, and storage. With approximately $5.6 billion in institutional capital commitments, EnCap Flatrock manages multiple funds and emphasizes a disciplined approach to value creation. The firm typically invests between $100 million and $200 million in its portfolio companies and often acquires controlling stakes, seeking to influence major strategic decisions. It aims for investment exits within three to seven years. EnCap Flatrock Midstream operates additional offices in Edmond, Oklahoma, and Houston, Texas, and holds over $6.5 billion in total assets under management.

Charles W. Bauer

Managing Director and Head of Investor Relations and Fundraising

Cole G. Ciaburri

Associate

Morriss Hurt

Managing Director

J. Zachary Kayem

Vice President

Gregory King

Managing Partner

Brett Knowles

Managing Director

David Kurtz

Managing Partner

William R. Lemmons Jr.

Managing Partner and Founder

Matthew R. Melton

Vice President

Bradley J. Misialek

Vice President

Samuel Pitts

Managing Partner

Sam Pitts

Managing Partner

Abigail Rimel

VP

R. Kyle Stelma

Private Equity Associate

Meredith Stieler

Vice President of Accounting and Controller

Thomas Waldrip

Managing Director

William Waldrip

Co-Founder

Rob Wingo

Managing Director

26 past transactions

Rangeland Energy

Private Equity Round in 2022
Rangeland Energy is an oil and energy company focused on the development and operation of midstream infrastructure assets. It specializes in the acquisition and management of facilities for crude oil, natural gas, natural gas liquids, and other petroleum products. The company serves a variety of clients, including refiners, commodities marketers, producers, and retail distributors, providing essential infrastructure to support the transportation and processing of these energy resources.

Cardinal Midstream

Private Equity Round in 2022
Cardinal was founded in 2008 with an initial $75 million equity commitment from EnCap Investments L.P. and EnCap Flatrock Midstream. In 2010, the equity commitment to Cardinal was increased to $280 million. Cardinal acquired and developed a substantial natural gas gathering, treating and processing system in the Arkoma Woodford Shale, and in 2012 the company sold all of its midstream assets and its natural gas contract treating business to Atlas Pipeline Partners, L.P. (NYSE: APL) for $600 million.

Humble Midstream

Private Equity Round in 2020
Humble Midstream is an energy company focused on the development of oil and gas products. The company focused on solutions that help customers transition to a low carbon future through carbon capture and the production of the fuels of the future, including blue and green hydrogen and renewable natural gas. It helps optimize existing midstream facilities to become clean assets of the future or meet midstream needs with new assets that look ahead.

Tatanka Midstream

Private Equity Round in 2020
Tatanka Midstream, LLC, founded in 2020 and based in San Antonio, Texas, specializes in oil and gas storage and distribution services. The company is dedicated to acquiring and developing midstream assets across North America. By enhancing the operations, maintenance, and efficiency of its acquired businesses, Tatanka Midstream aims to create value and build competitive new assets. This strategic focus enables the company to support the evolving demands of the North American energy market.

Edgewater Midstream

Private Equity Round in 2020
Edgewater was formed in late 2019 to provide independent midstream solutions to refiners, producers and marketers of crude oil, refined products and other bulk liquids. Based in Houston, the company is focused on the acquisition, development and operation of pipeline and terminal solutions between and in proximity to major North American petroleum trading hubs and demand centers.

Clear Creek Midstream

Private Equity Round in 2019
Headquartered in Houston and established in late 2018, Clear Creek is an independent energy company focused on the development of midstream infrastructure for oil and gas producers working in shale plays across North America. Clear Creek is pursuing organic, greenfield projects and select acquisition opportunities. Clear Creek offers custom midstream solutions including crude oil gathering, storage and transportation. Clear Creek’s three founders have more than 50 years of combined experience in the energy industry and have generated in excess of $4 billion in transactions across the midstream sector. Clear Creek is backed by an initial $300 million commitment from EnCap Flatrock Midstream.

Candor Midstream

Venture Round in 2018
Candor Midstream is an independent energy company that provides a full suite of midstream services to oil and gas producers across the U.S. Candor is led by a team of seasoned industry professionals who have worked in virtually every shale play in the country. They are well-known and trusted by the industry’s premier operators. Headquartered in Houston, Candor was established in 2017 by President and CEO Darrel Hagerman.The company is backed by EnCap Flatrock Midstream.

Getka Energy

Private Equity Round in 2018
Getka provides storage, blending, truck-to-pipe and pipeline transportation solutions to crude oil producers and domestic and international marketers. Delivering storage, blending, and terminal solutions, as well as pipeline transportation and market optionality for producers across North America in addition to domestic and international marketers. Getka is focused on unique solutions that leverage technology, market relationships and asset expertise to offer the reach and optionality that customers value.

Greenfield Midstream

Private Equity Round in 2018
Greenfield Midstream is an energy company focused on the development of midstream assets and infrastructure. The company provides services including natural gas gathering, processing, treating, and compression; crude oil gathering and transportation; water handling; and product marketing. Greenfield Midstream was founded in 2017 and is headquartered in The Woodlands, TX.

Lotus Midstream

Private Equity Round in 2018
Lotus Midstream, LLC is an independent energy company based in Sugar Land, Texas, established in 2017. It specializes in crude oil logistics, owning and operating a pipeline system dedicated to gathering and transporting crude oil and condensate from production sites to market. The company offers a comprehensive range of midstream services, including wellhead gathering, intra-basin transportation, terminalling, and long-haul transportation. Led by a seasoned management team with over 55 years of combined industry experience, Lotus Midstream aims to optimize the crude oil value chain by identifying effective markets for supply and demand, ultimately enhancing producer profitability.

Greenfield Midstream

Private Equity Round in 2017
Greenfield Midstream is an energy company focused on the development of midstream assets and infrastructure. The company provides services including natural gas gathering, processing, treating, and compression; crude oil gathering and transportation; water handling; and product marketing. Greenfield Midstream was founded in 2017 and is headquartered in The Woodlands, TX.

Cardinal Midstream

Private Equity Round in 2017
Cardinal was founded in 2008 with an initial $75 million equity commitment from EnCap Investments L.P. and EnCap Flatrock Midstream. In 2010, the equity commitment to Cardinal was increased to $280 million. Cardinal acquired and developed a substantial natural gas gathering, treating and processing system in the Arkoma Woodford Shale, and in 2012 the company sold all of its midstream assets and its natural gas contract treating business to Atlas Pipeline Partners, L.P. (NYSE: APL) for $600 million.

Aspen Midstream

Private Equity Round in 2017
Aspen Midstream, LLC provides integrated midstream solutions to oil and gas producers in North America. Its services include natural gas gathering, processing, compression, and treating; condensate stabilization and vapor recovery; crude oil gathering and terminaling; and produced-water gathering and disposal. The company was founded in 2017 and is based in Dallas, Texas.

Lucid Energy Group

Private Equity Round in 2016
LUCID ENERGY GROUP is a midstream services company providing gathering, treating, processing, compression and transportation services to producers working in the Permian Basin. LUCID has developed and is continuing to expand its greenfield gathering and processing facilities in the high-growth production areas of the Wolfcamp and Clines shales. LUCID was formed in 2011 with equity commitments from EnCap Flatrock Midstream of San Antonio. Headquartered in Dallas, LUCID is focusing its operations on the Eastern Shelf region of the Permian Basin and has field offices near its operating assets in Sterling City and San Angelo. The company's ability to create unique solutions distinguishes LUCID and puts the company in a strong position to meet the accelerating demand for midstream infrastructure in the region. At LUCID, they understand how important service is to our customers. They hold fast to their vision and creativity. They believe in communicating clearly so that every deal is easily understood. They are perceptive and in the moment with our customers while we work hard to develop unconventional solutions and partner with them for success. Their customers trust them because there are no surprises. At LUCID, they are Vision At Work.
Plains All American Pipeline is engaged in the transportation, storage, terminalling and marketing of crude oil, as well as in the processing, transportation, fractionation, storage and marketing of natural gas liquids ("NGL"). We own and operate a diversified portfolio of strategically located assets that play a vital role in the movement of U.S. and Canadian energy supplies. On average we handle over 3.5 million barrels per day of crude oil and NGL through our extensive network of assets located in key North American producing basins, major market hubs and transportation gateways. The company is headquartered in Houston.

Rangeland Energy

Private Equity Round in 2015
Rangeland Energy is an oil and energy company focused on the development and operation of midstream infrastructure assets. It specializes in the acquisition and management of facilities for crude oil, natural gas, natural gas liquids, and other petroleum products. The company serves a variety of clients, including refiners, commodities marketers, producers, and retail distributors, providing essential infrastructure to support the transportation and processing of these energy resources.

Evolution Midstream

Private Equity Round in 2015
Evolution Midstream is an independent midstream company that provides essential services to oil and gas producers in the Rocky Mountain region, particularly those engaged in unconventional shale plays. The company focuses on building strong, long-term relationships with its clients, emphasizing trust, accountability, and fairness. Evolution Midstream offers a comprehensive range of services, including natural gas gathering, compression, treating, processing, and crude oil gathering, transportation, and storage. In addition, the company provides innovative solutions for natural gas liquids (NGL) and water handling, allowing clients to reduce costs and effectively address their midstream service needs. Through its commitment to fostering collaboration and understanding stakeholder needs, Evolution Midstream aims to enhance producer netbacks and deliver value to all parties involved.

Stakeholder Midstream

Private Equity Round in 2015
Operator of a midstream oil and gas company serving producers operating in unconventional shale plays across North America. The company offers in-field natural gas gathering, compression, treating and processing services, crude oil gathering, transportation and storage services, thereby solving problems and creating value for its customers in an environmentally responsible manner.

Nuevo Midstream

Private Equity Round in 2015
Nuevo Midstream, LLC is a start-up midstream company headquartered in Houston. The company was formed with a $65 million commitment from the EnCap Energy Infrastructure Fund, Torch Energy Advisors Incorporated and Petroleum Fuels Company, Inc., including contributions of assets and management services from Torch Energy and Petroleum Fuels. Nuevo Midstream will focus its operations in the Permian Basin with emphasis on the Bone Springs and Wolfcamp formations and the Avalon Shale trend in southeast New Mexico and west Texas. Led by Jay Lendrum, Torch Energy's current president and COO, the senior leadership group at Nuevo Midstream has more than 120 years of energy industry experience and also includes Randy Ziebarth, vice president of operations; Chris Work, vice president and chief financial officer; and Dwight Serrett, vice president of engineering and construction.

Moda Midstream

Private Equity Round in 2015
Moda Midstream, LLC is a liquids terminaling and logistics company that specializes in providing independent terminal, storage, and distribution services for various energy products, including crude oil, condensate, natural gas liquids (NGLs), and refined products. The company serves a diverse clientele, including refiners, petrochemical manufacturers, and marketers. Its operations encompass a range of services such as deepwater vessel loading and unloading, storage, blending, processing, and pipeline operations. Moda Midstream prioritizes safety and reliability, offering flexible multimodal connectivity to enhance the efficiency of its service delivery and meet the specific needs of its customers.

RiverRock Energy

Private Equity Round in 2014
RiverRock Energy, LLC, founded in 2014 and based in Shavano Park, Texas, specializes in developing midstream infrastructure, including pipelines, rail, and bulk storage facilities, to support the oil and gas industry. The company focuses on creating value for oil and gas producers by offering tailored logistics solutions that meet their specific needs. Its services encompass gathering, transportation, and storage for crude oil, natural gas, water, natural gas liquids, and other hydrocarbon products, particularly in rapidly growing resource plays.

Tall Oak Midstream

Private Equity Round in 2014
Tall Oak Midstream was founded in early 2014 by a team of experienced executives with diverse and complementary backgrounds across the midstream and upstream sectors. With a firm belief in a set of core values and a dedication to creating a customer-driven company that operates with excellence as its standard, the Tall Oak team provides oil and gas producers a full suite of midstream services.

Cardinal Midstream

Private Equity Round in 2013
Cardinal was founded in 2008 with an initial $75 million equity commitment from EnCap Investments L.P. and EnCap Flatrock Midstream. In 2010, the equity commitment to Cardinal was increased to $280 million. Cardinal acquired and developed a substantial natural gas gathering, treating and processing system in the Arkoma Woodford Shale, and in 2012 the company sold all of its midstream assets and its natural gas contract treating business to Atlas Pipeline Partners, L.P. (NYSE: APL) for $600 million.

Rangeland Energy

Private Equity Round in 2013
Rangeland Energy is an oil and energy company focused on the development and operation of midstream infrastructure assets. It specializes in the acquisition and management of facilities for crude oil, natural gas, natural gas liquids, and other petroleum products. The company serves a variety of clients, including refiners, commodities marketers, producers, and retail distributors, providing essential infrastructure to support the transportation and processing of these energy resources.

Lucid Energy Group

Private Equity Round in 2012
LUCID ENERGY GROUP is a midstream services company providing gathering, treating, processing, compression and transportation services to producers working in the Permian Basin. LUCID has developed and is continuing to expand its greenfield gathering and processing facilities in the high-growth production areas of the Wolfcamp and Clines shales. LUCID was formed in 2011 with equity commitments from EnCap Flatrock Midstream of San Antonio. Headquartered in Dallas, LUCID is focusing its operations on the Eastern Shelf region of the Permian Basin and has field offices near its operating assets in Sterling City and San Angelo. The company's ability to create unique solutions distinguishes LUCID and puts the company in a strong position to meet the accelerating demand for midstream infrastructure in the region. At LUCID, they understand how important service is to our customers. They hold fast to their vision and creativity. They believe in communicating clearly so that every deal is easily understood. They are perceptive and in the moment with our customers while we work hard to develop unconventional solutions and partner with them for success. Their customers trust them because there are no surprises. At LUCID, they are Vision At Work.