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.

Morriss L. Hurt

Managing Partner and COO

Dennis F Jaggi

Co-Founder

Gregory King

Managing Partner

Brett Knowles

Managing Director

David Kurtz

Managing Partner

William R. Lemmons Jr.

Founder

Matthew R. Melton

Vice President

Bradley J. Misialek

Vice President

Ian S. Morris

Senior Associate

Samuel Pitts

Managing Partner

Abigail R. Stavinoha

Vice President

R. Kyle Stelma

Vice President

Thomas Waldrip

Managing Director

William Waldrip

Co-Founder

Rob Wingo

Managing Director

27 past transactions

Vecino Energy Partners

Private Equity Round in 2022
Vecino Energy Partners is a growth-oriented energy infrastructure company focused on supporting the domestic oil and gas industry in the United States. The company operates a range of energy production infrastructure and specializes in services such as gas gathering and compression, oil and water gathering, and the construction of low and high-pressure pipelines. Additionally, Vecino Energy Partners provides sour gas treaters and acid gas injection wells, and is involved in the extraction, processing, and supply of oil, water, and gas products to its clients and consumers.

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.

Elysian Carbon Management

Private Equity Round in 2021
Provider of integrated end-to-end carbon capture and storage (CCS) services intended for owners of industrial and power facilities. The company engages in developing, building and owning carbon capture assets across a diverse array of carbon emission sources, enabling clients with the transition into low-carbon products while addressing their environmental, social and governance (ESG) goals.

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
Clear Creek Midstream, LLC, founded in 2018 and headquartered in Houston, Texas, is an independent energy company specializing in the development of midstream infrastructure for oil and gas producers, particularly in shale plays across North America. The company focuses on organic, greenfield projects and selective acquisition opportunities, offering a range of custom midstream solutions including crude oil gathering, storage, and transportation. Additionally, Clear Creek is committed to supporting the transition to a lower-carbon future by providing services related to carbon capture, transportation, utilization, and storage, thereby addressing the increasing demand for comprehensive infrastructure in the energy sector. The founders of Clear Creek bring over 50 years of combined experience in the energy industry, having facilitated transactions exceeding $4 billion in the midstream sector.

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 that specializes in the development of midstream infrastructure assets across North America. Founded in 2017 and headquartered in The Woodlands, Texas, the company focuses on providing essential services such as natural gas gathering, processing, treating, and compression, as well as crude oil gathering and transportation. Additionally, Greenfield Midstream offers water handling and product marketing services, aiming to support area producers and promote the organic growth of midstream assets in underserved regions.

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 that specializes in the development of midstream infrastructure assets across North America. Founded in 2017 and headquartered in The Woodlands, Texas, the company focuses on providing essential services such as natural gas gathering, processing, treating, and compression, as well as crude oil gathering and transportation. Additionally, Greenfield Midstream offers water handling and product marketing services, aiming to support area producers and promote the organic growth of midstream assets in underserved regions.

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 based in Dallas, Texas, specializing in natural gas gathering, processing, transportation, and treatment for producers in the Permian Basin. Established in 2011 with backing from EnCap Flatrock Midstream, Lucid focuses on expanding its gathering and processing facilities in key production areas such as the Wolfcamp and Clines shales. The company operates field offices in Sterling City and San Angelo to support its operations on the Eastern Shelf of the Permian Basin. Lucid Energy Group is committed to developing both large and small-scale infrastructure and facilities related to crude oil production, aiming to address the increasing demand for midstream services in the region. By prioritizing customer service and fostering clear communication, Lucid strives to provide tailored solutions that build trust and ensure successful partnerships with its clients.
Plains All American Pipeline, L.P. specializes in the transportation, storage, terminalling, and marketing of crude oil and natural gas liquids (NGL) across the United States and Canada. The company operates through three main segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment manages an extensive network of pipelines and gathering systems, owning approximately 18,535 miles of active infrastructure and a significant capacity for storage. The Facilities segment focuses on providing storage and terminalling services, as well as processing for crude oil and NGL, with operational capacities including 79 million barrels of crude oil storage and multiple processing plants. The Supply and Logistics segment engages in purchasing, storing, and transporting crude oil and NGL, leveraging a diverse fleet of transport vehicles and railcars. Founded in 1998 and headquartered in Houston, Texas, Plains All American Pipeline plays a crucial role in the movement of energy supplies in North America, handling over 3.5 million barrels per day through its strategically located assets.

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 based in Houston, focusing on providing midstream infrastructure services primarily to natural gas producers in the Permian Basin, particularly in the Bone Springs and Wolfcamp formations, as well as the Avalon Shale trend in southeast New Mexico and west Texas. The company, which was established with a significant financial commitment from the EnCap Energy Infrastructure Fund and other partners, offers a range of services that include natural gas gathering, compression, treating, processing, transportation, fractionation, and storage of natural gas liquids (NGLs). The leadership team, which boasts over 120 years of combined experience in the energy sector, is headed by Jay Lendrum, along with key executives such as Randy Ziebarth, Chris Work, and Dwight Serrett.

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, established in 2014 by a team of seasoned executives, offers comprehensive midstream services tailored for oil and gas producers in the Arkoma Basin. The company specializes in natural gas gathering, compression, treating, and processing, alongside crude oil gathering and transportation. Additionally, Tall Oak provides condensate and water handling services, as well as product marketing solutions. Committed to customer satisfaction and operational excellence, Tall Oak Midstream aims to deliver a full suite of services that cater to the needs of its clients in the energy sector.

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 based in Dallas, Texas, specializing in natural gas gathering, processing, transportation, and treatment for producers in the Permian Basin. Established in 2011 with backing from EnCap Flatrock Midstream, Lucid focuses on expanding its gathering and processing facilities in key production areas such as the Wolfcamp and Clines shales. The company operates field offices in Sterling City and San Angelo to support its operations on the Eastern Shelf of the Permian Basin. Lucid Energy Group is committed to developing both large and small-scale infrastructure and facilities related to crude oil production, aiming to address the increasing demand for midstream services in the region. By prioritizing customer service and fostering clear communication, Lucid strives to provide tailored solutions that build trust and ensure successful partnerships with its clients.
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