San Antonio-based EnCap Flatrock Midstream, a company with offices in Oklahoma City and Houston has made an initial $300 million equity commitment to Houston-based greenfield Midstream.
Greenfield’s an independent company formed this year and focuses on the development of midstream infrastructure across North America. Its services include natural gas gathering, processing, treating and compression as well as gathering and transportation of crude oil.
EnCap provides the private equity capital to those teams focused on midstream infrastructure opportunities. The company was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors. The company manages investment commitments of nearly $6 billion from a broad group of institutional investors. It’s currently making commitments to new management teams from a $3 billion fund.
Greenfield’s co-founder, Jeremy Ham is CEO while Patrick Brierley is COO.
“Because the firm has such a strong reputation and track record in our space, EnCap Flatrock was our first and only stop for a financial partner,” said Ham in making the announcement.
“We are thrilled to partner with Greenfield Midstream,” said EnCap Flatrock Midstream Partner Dennis McCanless, a member of the Greenfield board of directors. “We have the utmost confidence in the Greenfield management team.”