Caiman Energy and Blue Racer Midstream Announce Management Changes
DALLAS – May 20, 2015 – Caiman Energy II, LLC and Blue Racer Midstream, LLC announced today that Jack Lafield has stepped down as chief executive officer of both companies. Mr. Lafield will continue to serve as chairman of Caiman Energy II and remains a member of Blue Racer’s board of directors. Stephen Arata has been named CEO of both Caiman Energy II and Blue Racer Midstream.
“Jack led the formation of our predecessor company, Caiman Energy, LLC. He oversaw Caiman’s remarkable growth in the Marcellus Shale and the $2.5 billion sale of the company in 2012. He has since made countless contributions to the success of Caiman Energy II and Blue Racer Midstream,” said Stephen Arata, CEO of Caiman Energy II and Blue Racer Midstream. “We look forward to collaborating with Jack in the board room where his unique vision, insights and inspiration will continue to guide both companies."
Prior to his appointment as CEO, Mr. Arata served as chief financial officer of Caiman Energy II and Blue Racer Midstream. Mr. Arata joined Caiman Energy, LLC as CFO in October 2010. He co-founded Caiman Energy II, LLC in mid-2012 and was a lead negotiator in the December 2012 formation of Blue Racer Midstream. Blue Racer is a joint venture between Caiman Energy II and Dominion (NYSE: D) to provide midstream services to producers in the Utica and Marcellus shale plays.
Kyle Irons succeeds Mr. Arata as CFO of Caiman Energy II and Blue Racer Midstream. Mr. Irons served as vice president of finance of Caiman Energy II from July 2012 to May 2015. He joined Caiman Energy in October 2010 as director of finance.
“I am very pleased that these changes have been brought about through careful planning and internal appointments, which have allowed for a very smooth transition,” said Jack Lafield, chairman of Caiman Energy II. ”Operations at Caiman and Blue Racer are in excellent hands and I will continue to be involved in major decisions. Stephen and Kyle are exceptional leaders who have played vital roles in our growth and bring important strategic insight, operational knowledge and financial acumen to the CEO and CFO positions. Our president and chief operating officer, Rick Moncrief, rounds out the senior leadership team. Rick is an extremely skilled executive who has more than 30 years of experience in the energy industry and has been with Caiman since inception as a co-founder.”
About Caiman Energy II, LLC
Caiman Energy II, LLC is a midstream energy company focused on the design, construction, operation and acquisition of midstream assets. The company is currently focused on midstream projects in the Utica and Marcellus shale plays and serves producers by providing natural gas and condensate gathering, compression, dehydration, measurement, treating and conditioning, processing, liquids transportation and fractionation services. Caiman Energy II is backed by equity commitments from Williams Partners (NYSE: WPZ), EnCap Flatrock Midstream, Oak Tree Capital Management, L.P. and management.
About Blue Racer Midstream, LLCFormed in December 2012, Blue Racer Midstream is a joint venture between Caiman Energy II, LLC and Dominion (NYSE: D) dedicated to providing producers in the Utica and Marcellus shale plays with midstream services and the ability to receive the highest value for their products. Blue Racer's services include natural gas gathering, compression, treating, processing and transportation; condensate handling; and the fractionation, storage, transportation and marketing of natural gas liquids.