New gas processing plant gets financing

Backed by money from Encap Flatrock Midstream, a Texas firm with offices in Oklahoma City, Cogent Midstream LLC is expanding its natural gas processing in the lower Midland Basin of West Texas.

Cogent plans to build a new refrigerated cryogenic processing plant at the same location as its current Big Lake Plant in Reagan County, Texas. The Big Lake II plant will have the capacity to process an additional 200 million cubic feet a day and will serve the growing natural gas production from the Wolfcamp formation.

The Big Lake II plant is expected to come into service in the fourth quarter of 2019.

 Cogent is headquartered in Dallas and backed by growth capital commitments from EnCap Flatrock Midstream.

EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages investment commitments of nearly $9 billion from a broad group of prestigious institutional investors.