EnCap Flatrock Midstream

EnCap Flatrock Midstream, established in 2008, is a private equity firm headquartered in San Antonio, Texas, with additional offices in Edmond, Oklahoma, and Houston, Texas. The firm specializes in investing in the midstream energy infrastructure sector across North America, focusing on natural gas and crude oil gathering, processing, storage, and transportation, as well as related services. EnCap Flatrock Midstream typically invests between $100 million to $200 million in its portfolio companies, seeking controlling stakes and board representation. The firm aims to enhance the value of its investments through strategic decision-making and exits within three to seven years.

Dennis F Jaggi

Co-Founder

Gregory King

Managing Partner

Brett Knowles

Managing Director

David Kurtz

Managing Partner

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

William Waldrip

Co-Founder

Thomas J. Waldrip

Managing Director

Robert 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. It specializes in a range of services, including gas gathering and compression, oil and water gathering, and the operation of low and high-pressure pipelines. The company also provides sour gas treaters and acid gas injection wells, facilitating the extraction, processing, and supply of oil, water, and gas products to various consumers and clients. Through its comprehensive infrastructure and service offerings, Vecino Energy Partners plays a vital role in enhancing the efficiency and reliability of energy production in the region.

Rangeland Energy

Private Equity Round in 2022
Rangeland Energy is an oil and energy company focused on the midstream sector, specializing in the development, acquisition, and operation of infrastructure for natural gas, natural gas liquids, and other petroleum products. The company constructs and manages facilities for processing, gathering, transmission, and storage, catering to the needs of producers, refiners, and marketers. Rangeland Energy serves both traditional resource plays and emerging energy transition markets, providing essential infrastructure for oil, natural gas, NGLs, hydrogen, and other biofuels.

Cardinal Midstream Partners

Private Equity Round in 2022
Cardinal Midstream Partners, founded in 2008 and based in Dallas, Texas, specializes in midstream operations with a focus on natural gas gathering, transmission, and processing. The company initially received a significant equity commitment to support its growth, allowing it to develop a robust natural gas gathering and processing system in the Arkoma Woodford Shale. In 2012, Cardinal strategically divested its midstream assets and natural gas contract treating business, selling them for $600 million. Currently, Cardinal is actively pursuing midstream acquisition and development opportunities across North America, with an emphasis on congruent carbon capture and sequestration, aligning its operations with global initiatives aimed at minimizing carbon emissions and facilitating energy transition.

Elysian Carbon Management

Private Equity Round in 2021
Elysian Carbon Management is a carbon management firm that specializes in providing integrated end-to-end carbon capture and storage (CCS) solutions for owners of industrial and power facilities. The company focuses on helping its clients transition to low-carbon products while addressing their environmental, social, and governance (ESG) objectives through effective emissions reduction strategies. Elysian develops, builds, and owns carbon capture assets, which are designed to cater to a diverse array of carbon emission sources. By leveraging CO2 pipeline and storage assets located in various basins across North America, Elysian aims to create value for its clients and support their sustainability initiatives.

Humble Midstream II

Private Equity Round in 2020
Humble Midstream is an energy company that develops and operates midstream facilities, focusing on transitioning the industry towards a low-carbon future. It specializes in the production of clean hydrogen, clean ammonia, and carbon capture, utilization, and sequestration (CCUS) projects, aiming to optimize existing facilities and build new ones that meet sustainability goals.

Tatanka Midstream

Private Equity Round in 2020
Tatanka Midstream, LLC is an oil and gas company headquartered in San Antonio, Texas, that specializes in the acquisition and development of midstream assets. Founded in 2020, Tatanka is dedicated to enhancing the efficiency and performance of its operations while also constructing new competitive infrastructure within the North American energy sector. The company aims to create value by optimizing the operations and maintenance of its acquired assets, thereby addressing the evolving demands of the energy market.

Edgewater Midstream

Private Equity Round in 2020
Edgewater Midstream, LLC is a Houston-based company founded in 2019 that specializes in the acquisition, development, and operation of pipeline and terminal solutions for the midstream sector. The company offers independent services to refiners, producers, and marketers of crude oil, refined products, and other bulk liquids. By focusing on strategic locations near major North American petroleum trading hubs and demand centers, Edgewater Midstream facilitates efficient transportation and storage of these products, thereby supporting the oil and gas industry's logistical needs.

Clear Creek Midstream

Private Equity Round in 2019
Clear Creek Midstream, LLC is an independent energy company based in Houston, Texas, established in late 2018. The company specializes in developing midstream infrastructure for oil and gas producers, particularly those operating in shale plays across North America. Clear Creek offers a range of customized solutions, including crude oil gathering, storage, and transportation services. Additionally, the firm is focused on organic, greenfield projects and selective acquisition opportunities to expand its operations. With founders possessing over 50 years of combined experience in the energy sector, Clear Creek is also committed to supporting the transition to a lower-carbon future through comprehensive carbon capture, transportation, utilization, and storage services.

Candor Midstream

Venture Round in 2018
Candor Midstream is an independent energy company based in Houston that specializes in providing a comprehensive range of midstream services to oil and gas producers across the United States. Established in 2017, Candor is led by a team of experienced industry professionals with extensive expertise in various shale plays. The company offers services such as natural gas gathering and transportation, saltwater gathering, condensate stabilization, and long-haul transportation. These services are designed to enhance productivity and optimize efficiency for clients in the energy sector, making Candor a trusted partner for leading operators in the industry.

Getka Energy

Private Equity Round in 2018
Getka Energy specializes in providing comprehensive logistics services for crude oil, including storage, blending, truck-to-pipe, and pipeline transportation. The company serves crude oil producers as well as domestic and international marketers, facilitating efficient and safe access to hydrocarbons. Getka Energy emphasizes unique solutions that harness technology, market relationships, and asset expertise, offering clients enhanced agility and optionality across North America. By delivering tailored terminal solutions and logistical support, Getka Energy aims to meet the evolving needs of the crude oil industry while ensuring operational effectiveness.

Greenfield Midstream

Private Equity Round in 2018
Greenfield Midstream is an energy company dedicated to 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. By targeting underserved regions, the company aims to support local producers and promote the organic growth of midstream assets.

Lotus Midstream

Private Equity Round in 2018
Lotus Midstream, LLC is an independent energy company headquartered in Sugar Land, Texas, that specializes in crude oil logistics and midstream infrastructure development. Established in 2017, the company focuses on the transportation of crude oil and condensate from the wellhead to market through its pipeline systems. Lotus Midstream offers a comprehensive range of services, including wellhead gathering, intra-basin transportation, terminalling, and long-haul transportation. By identifying optimal markets for supply and demand, Lotus Midstream aims to maximize producer netbacks while providing essential logistics solutions in the energy sector.

Greenfield Midstream

Private Equity Round in 2017
Greenfield Midstream is an energy company dedicated to 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. By targeting underserved regions, the company aims to support local producers and promote the organic growth of midstream assets.

Cardinal Midstream Partners

Private Equity Round in 2017
Cardinal Midstream Partners, founded in 2008 and based in Dallas, Texas, specializes in midstream operations with a focus on natural gas gathering, transmission, and processing. The company initially received a significant equity commitment to support its growth, allowing it to develop a robust natural gas gathering and processing system in the Arkoma Woodford Shale. In 2012, Cardinal strategically divested its midstream assets and natural gas contract treating business, selling them for $600 million. Currently, Cardinal is actively pursuing midstream acquisition and development opportunities across North America, with an emphasis on congruent carbon capture and sequestration, aligning its operations with global initiatives aimed at minimizing carbon emissions and facilitating energy transition.

Aspen Midstream

Private Equity Round in 2017
Aspen Midstream LLC, established in 2017 and headquartered in Dallas, Texas, specializes in providing comprehensive midstream solutions to oil and gas producers across North America. The company offers services including natural gas gathering, processing, compression, treating, condensate stabilization, vapor recovery, crude oil gathering, terminaling, and produced-water disposal. Aspen's experienced leadership team, comprising four founding partners with over eight years of collective history and extensive knowledge in various basins such as Eagle Ford Shale, Permian, Midcontinent, Haynesville Shale, and Barnett Shale, ensures reliable and safe execution of these services to maximize clients' netbacks.

Lucid Energy Group

Private Equity Round in 2016
Lucid Energy Group is a midstream services company based in Dallas, Texas, specializing in the gathering, processing, transportation, and treatment of natural gas and crude oil. Established in 2011, Lucid focuses on serving producers in the Permian Basin, particularly in the high-growth areas of the Wolfcamp and Clines shales. The company is actively expanding its greenfield gathering and processing facilities to meet the increasing demand for midstream infrastructure in the region. Lucid's operations include developing and operating a range of infrastructure and facilities, with field offices located in Sterling City and San Angelo. By emphasizing clear communication and customer service, Lucid aims to build trust with its clients, delivering tailored solutions that address their unique needs in the evolving energy landscape.

Plains All American Pipeline

Post in 2016
Plains All American Pipeline, L.P. is a prominent player in the energy sector, specializing in the transportation, storage, and marketing of crude oil and natural gas liquids (NGL) across the United States and Canada. Founded in 1998 and headquartered in Houston, Texas, the company operates through three main segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment manages an expansive network of approximately 18,535 miles of active pipelines and gathering systems, enhancing its capacity to transport crude oil and NGL via diverse methods, including pipelines and barges. The Facilities segment focuses on storage and terminalling services, boasting significant storage capacities for crude oil, NGL, and natural gas, alongside various processing facilities. Lastly, the Supply and Logistics segment is involved in purchasing and marketing crude oil and NGL, managing inventories, and utilizing a fleet of trucks, trailers, and railcars for transportation. Plains All American Pipeline handles over 3.5 million barrels of crude oil and NGL daily, emphasizing its critical role in the energy supply chain, particularly in North America's major production areas.

Rangeland Energy

Private Equity Round in 2015
Rangeland Energy is an oil and energy company focused on the midstream sector, specializing in the development, acquisition, and operation of infrastructure for natural gas, natural gas liquids, and other petroleum products. The company constructs and manages facilities for processing, gathering, transmission, and storage, catering to the needs of producers, refiners, and marketers. Rangeland Energy serves both traditional resource plays and emerging energy transition markets, providing essential infrastructure for oil, natural gas, NGLs, hydrogen, and other biofuels.

Evolution Midstream

Private Equity Round in 2015
Evolution Midstream is an independent midstream company that provides essential services to oil and gas producers in unconventional shale plays, particularly in the Rocky Mountain region. The company focuses on building strong, long-term relationships with stakeholders, ensuring their needs are met through trust, accountability, and fairness. Evolution Midstream offers a comprehensive suite of services, including natural gas gathering, compression, treatment, processing, and crude oil gathering, transportation, and storage. Additionally, the company provides innovative solutions for natural gas liquids (NGL) and water handling, allowing clients to reduce costs and effectively address their midstream service requirements. Through its commitment to fostering collaboration and creative problem-solving, Evolution Midstream aims to enhance producer netbacks and support the operational success of its clients.

Stakeholder Midstream

Private Equity Round in 2015
Stakeholder Midstream is a midstream oil and gas company that provides essential services to producers in unconventional shale plays across North America. The company specializes in in-field natural gas gathering, compression, treating, and processing services, as well as crude oil gathering, transportation, and storage. By focusing on environmentally responsible practices, Stakeholder Midstream aims to solve operational challenges and create value for its customers through a range of thoughtful midstream solutions, including permanent carbon sequestration.

Nuevo Midstream

Private Equity Round in 2015
Nuevo Midstream, LLC is a Houston-based midstream company that specializes in providing essential infrastructure and services for natural gas producers. With a focus on operations 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 aims to facilitate the efficient gathering, compression, treating, processing, and transportation of natural gas, natural gas liquids, crude oil, and condensate. Nuevo Midstream's leadership team, comprised of seasoned industry professionals, brings over 120 years of combined experience in the energy sector, ensuring the delivery of comprehensive midstream services to producers and marketers. The company is backed by significant financial commitments from notable energy investment firms, which supports its strategic initiatives and operational capabilities.

Moda Midstream

Private Equity Round in 2015
Moda Midstream is a liquids terminaling and logistics company that specializes in providing independent terminal, storage, and distribution services for a variety of energy products. The company caters to refiners, petrochemical manufacturers, marketers, and producers of crude oil, condensate, natural gas liquids (NGLs), and refined products. Moda Midstream offers a range of services, including deepwater vessel loading and unloading, storage, blending, processing, and pipeline operations. Committed to safety and reliability, the company focuses on delivering flexible multimodal connectivity to ensure that customers receive efficient and effective solutions tailored to their needs.

RiverRock Energy

Private Equity Round in 2014
RiverRock Energy, LLC is a midstream company that specializes in developing infrastructure for the oil and gas sector. Founded in 2014 and based in Shavano Park, Texas, the company focuses on creating tailored solutions for oil and gas producers, particularly in rapidly growing resource plays. RiverRock Energy provides a range of services that include gathering, transportation, and storage for crude oil, natural gas, water, natural gas liquids, and other hydrocarbon liquids. The company operates pipelines, rail systems, and bulk storage facilities throughout various domestic oil and gas basins, emphasizing efficient logistics to meet the unique needs of its customers.

Tall Oak Midstream

Private Equity Round in 2014
Tall Oak Midstream is an innovative midstream company focused on serving oil and gas producers, particularly in the Arkoma Basin. The company offers a comprehensive range of midstream services that include natural gas gathering, compression, treating, and processing, as well as crude oil gathering and transportation. Additionally, Tall Oak Midstream provides condensate and water handling services, along with product marketing solutions. Through its diverse capabilities, the company aims to enhance the efficiency and effectiveness of oil and gas operations.

Cardinal Midstream Partners

Private Equity Round in 2013
Cardinal Midstream Partners, founded in 2008 and based in Dallas, Texas, specializes in midstream operations with a focus on natural gas gathering, transmission, and processing. The company initially received a significant equity commitment to support its growth, allowing it to develop a robust natural gas gathering and processing system in the Arkoma Woodford Shale. In 2012, Cardinal strategically divested its midstream assets and natural gas contract treating business, selling them for $600 million. Currently, Cardinal is actively pursuing midstream acquisition and development opportunities across North America, with an emphasis on congruent carbon capture and sequestration, aligning its operations with global initiatives aimed at minimizing carbon emissions and facilitating energy transition.

Rangeland Energy

Private Equity Round in 2013
Rangeland Energy is an oil and energy company focused on the midstream sector, specializing in the development, acquisition, and operation of infrastructure for natural gas, natural gas liquids, and other petroleum products. The company constructs and manages facilities for processing, gathering, transmission, and storage, catering to the needs of producers, refiners, and marketers. Rangeland Energy serves both traditional resource plays and emerging energy transition markets, providing essential infrastructure for oil, natural gas, NGLs, hydrogen, and other biofuels.

Lucid Energy Group

Private Equity Round in 2012
Lucid Energy Group is a midstream services company based in Dallas, Texas, specializing in the gathering, processing, transportation, and treatment of natural gas and crude oil. Established in 2011, Lucid focuses on serving producers in the Permian Basin, particularly in the high-growth areas of the Wolfcamp and Clines shales. The company is actively expanding its greenfield gathering and processing facilities to meet the increasing demand for midstream infrastructure in the region. Lucid's operations include developing and operating a range of infrastructure and facilities, with field offices located in Sterling City and San Angelo. By emphasizing clear communication and customer service, Lucid aims to build trust with its clients, delivering tailored solutions that address their unique needs in the evolving energy landscape.
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