Greenfield Midstream Announces $300 Million Equity Commitment From Encap Flatrock Midstream
HOUSTON – July 11, 2017 – Greenfield Midstream, LLC (“Greenfield”) today 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.
The management team includes co-founders CEO Jeremy Ham, COO Patrick Brierley, Vice President of Business Development Chris Coxon and Vice President of Finance Henry Coulter. The Greenfield team brings strong industry experience from companies such as DCP Midstream, LP (NYSE: DCP), Enterprise Products Partners L.P. (NYSE: EPD), Noble Midstream Partners LP (NYSE: NBLX), Marlin Midstream Partners, LP (now Azure Midstream Partners, LP) and Azure Midstream Energy, LLC and an impressive track record of value creation in every major oil and gas basin in the nation.
“Our goal is to develop midstream assets that are tailored to fit producer needs and maximize stakeholder value,” Greenfield CEO Jeremy Ham said. “EnCap Flatrock brings the capital we need to move rapidly, strong financial acumen and a deep understanding of the development and operation of midstream assets. Because the firm has such a strong reputation and track record in our space, EnCap Flatrock was our first and only stop for a financial partner.”
From EnCap Flatrock Midstream
"We are thrilled to partner with Greenfield Midstream,” said EnCap Flatrock Midstream Partner Dennis McCanless, a member of the Greenfield board of directors. “We have the utmost confidence in the Greenfield management team. They have earned the trust and respect of many of the nation’s leading producers and have outstanding technical and operational skills. We look forward to working alongside them to grow the business.”
Greenfield Midstream was advised by Vinson & Elkins LLP. The team was led by partner Matthew Strock from the firm’s Houston office. Thompson & Knight LLP represented EnCap Flatrock Midstream with partner Sarah E. McLean leading the legal team from the firm’s Houston office.
About Greenfield Midstream, LLC
Greenfield Midstream is an independent energy company formed in 2017 and focused on the organic development of midstream assets across North America. The company is also pursuing select acquisition opportunities. Services include natural gas gathering, processing, treating and compression; crude oil gathering and transportation; water handling; and product marketing.
Based in Houston, Greenfield is led by a seasoned management team with strong technical and operational skills, a history of delivering projects on time and on budget and a proven track record of value creation for its stakeholders. The team has experience in every major basin in the nation — experience that has earned the trust and respect of the producer community. For more information please visit www.greenfieldmidstream.com.
About EnCap Flatrock Midstream
EnCap Flatrock Midstream provides value-added private equity 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. Based in San Antonio with offices in Oklahoma City and Houston, EnCap Flatrock manages investment commitments of nearly $6 billion from a broad group of institutional investors. EnCap Flatrock is currently making commitments to new management teams from EFM Fund III, a $3 billion fund. Visit www.efmidstream.com for more information.