Getka Energy Announces $250 Million Capital Commitment from EnCap Flatrock Midstream
TULSA, Oklahoma – Getka Energy LLC (“Getka”), a crude oil logistics provider, announced today that it has secured an initial equity commitment of $250 million from EnCap Flatrock Midstream and the Getka management team. Getka was formed earlier this year to provide storage, blending and terminal solutions, as well as pipeline transportation and market optionality for producers across North America in addition to domestic and international marketers.
The company is focused on developing unique solutions that leverage technology, market relationships and asset expertise to offer the reach and optionality that customers value. Getka expects to focus its early efforts on multiple basins and market hubs throughout the Midcontinent, including the market center at Cushing, Oklahoma.
Getka is led by three founding partners, who have a long and successful history of working together. The team includes Chief Executive Officer Dariusz Cichocki, Chief Commercial Officer Clete Straub and Chief Operating Officer Matthew Turner. Getka’s founding partners have more than 50 years of combined energy industry experience and worked together at Enbridge Energy Partners L.P., where they focused on the commercial development of storage and pipeline systems.
From the CEO
“We believe there is a strong demand for a team that has a deep understanding of the crude oil supply chain, knows where the challenges and opportunities are and has the ability to execute reliably and rapidly,” Getka CEO Dariusz Cichocki said. “We will be looking to put our expertise to work to create value for customers by taking an innovative, commercial approach to the market that pioneers new ways to maximize assets and the way crude moves from the field to market centers.”
“When we decided to form Getka Energy, EnCap Flatrock Midstream was our preferred partner and the only equity provider we met with,” Mr. Cichocki added. “The firm is the undeniable leader in the space, and we are very pleased that the team at EnCap Flatrock shares our vision. We look forward to applying our combined expertise to grow a very successful business.”
From EnCap Flatrock Midstream
“EnCap Flatrock and the Getka team share a common approach to value creation,” said EnCap Flatrock Managing Partner David J. Kurtz, a member of the Getka board of directors. “Dariusz, Clete and Matt have outstanding reputations and relationships across the crude value chain. They bring everything we look for in a management team, including a proven track record and a very well-defined strategic plan.”
Getka Energy was advised by managing partner Zac Lindsey of LINDSEYfirm in Tulsa, Oklahoma. EnCap Flatrock was advised by Thompson & Knight LLP with partner Sarah McLean leading the firm’s legal team.
About Getka Energy LLC
Based in Tulsa, Getka Energy provides storage, blending, truck-to-pipe and pipeline transportation solutions to crude oil producers and domestic and international marketers. The company is led by CEO Dariusz Cichocki, CCO Clete Straub and COO Matthew Turner.
About 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. EnCap Flatrock Midstream is currently making commitments to new management teams from EFM Fund IV, a $3.25 billion fund. For more information please visit www.efmidstream.com.