Clear Creek Midstream closes $300m equity commitment from EnCap Flatrock Midstream
Clear Creek Midstream has announced an initial venture capital commitment of $300m from EnCap Flatrock Midstream. 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’s three founders have more than 50 years of combined experience in the energy industry and have generated in excess of $4bn in transactions across the midstream sector. For the past three years, they worked together at EnLink Midstream, where they originated, built and operated large-scale crude oil gathering systems in the Permian Basin.
“Our experience is a great fit with EnCap Flatrock’s financial strength and approach to creating value in the midstream sector,” said Clear Creek CEO Rick Van Eyk. “The team at EnCap Flatrock understands that midstream is a service business. Success depends on strong producer relationships, an innovative approach to problem-solving and developing reliable, cost-effective solutions that ensure delivery to premium markets.”
“We are excited to welcome the Clear Creek team to EnCap Flatrock Midstream,” said EnCap Flatrock Managing Partner Greg King, a member of the Clear Creek board of directors. “Rick Van Eyk, David Kley and Chase Sturdevant are widely recognised by producers across the country as trusted partners. We look forward to bringing our expertise and contacts to bear as we help them grow their business.”
For more information visit www.clearcreekmidstream.com
30th January 2019