Private equity firm EnCap Flatrock Midstream announced two commitments with energy sector firms to advance the development of energy infrastructure development.
Greenfield Midstream, LLC announced it has secured an initial $300 million equity commitment from EnCap Flatrock Midstream. Headquartered in Houston and established in 2017, Greenfield Midstream is a privately held energy company focused on the organic development of midstream infrastructure across North America. Services include natural gas gathering, processing, treating and compression; crude oil gathering and transportation; water handling; and product marketing. Greenfield is pursuing select acquisition opportunities.
Additionally, Tall Oak Midstream, LLC announced that its founders have formed Tall Oak Midstream III, LLC with an initial equity commitment of up to $200 million from private equity firm EnCap Flatrock Midstream and Tall Oak management. In January 2016, Tall Oak sold its first venture to EnLink for $1.55 billion. At that time, the company already had formed Tall Oak Midstream II, LLC. Tall Oak II will continue to focus on operating and expanding its midstream assets in the Northwest STACK play. The new company, Tall Oak III, will pursue midstream opportunities across North America outside the Northwest STACK.