Edgewater Midstream Announces Initial Equity Commitment from EnCap Flatrock Midstream
Edgewater Midstream, LLC (Edgewater) has secured an initial capital commitment of $400 million from EnCap Flatrock Midstream (EnCap Flatrock) and the Edgewater management team.
Edgewater was formed in late 2019 to provide independent midstream logistics solutions to refiners, producers and marketers of crude oil, refined products and other bulk liquids. The company will focus on the acquisition, development and operation of pipeline and terminal solutions between and in proximity to major North American petroleum trading hubs and demand centers.
Based in Houston, Edgewater is led by its three founders: Stephen Smith, chief executive officer; Brian Thomason, chief commercial officer; and Mike Truby, chief operating officer. Collectively, the Edgewater management team has more than 70 years of energy industry experience and has served in senior leadership roles at companies including Genesis Energy, LP (NYSE: GEL); Motiva Enterprises, LLC; ConocoPhillips (NYSE: COP) and NuStar Energy, LP (NYSE: NS).
“Changing dynamics in the North American petroleum market present attractive opportunities for Edgewater,” said Chief Executive Officer Stephen Smith. “In addition to a large financial commitment, EnCap Flatrock’s significant midstream industry expertise, relationships and successful track record provide a formidable platform to support Edgewater’s growth.”
“We are excited to be working with Edgewater Midstream,” said EnCap Flatrock Managing Partner Gregory C. King, who is also an Edgewater board member. “Our partnership with Stephen, Brian and Mike is illustrative of our strategy of supporting outstanding leaders with superb track records and integrity.”
Related News
Related News
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
Comments