Evolution launched with US$300 million equity
Published by Stephanie Roker,
Editor
World 鶹ýӳ,
Evolution Midstream announced an initial commitment of US$300 million from private equity firm EnCap Flatrock Midstream and the Evolution management team. Launched in July 2015 and headquartered in Denver, Evolution offers a full suite of integrated midstream solutions to oil and gas producers operating across North America. The company currently is focused on greenfield and strategic acquisition opportunities in the Rockies, Bakken Shale, Permian Basin, Mid-Continent and Appalachia. Services include natural gas gathering, processing, treating and compression; crude oil gathering, transportation and marketing; freshwater delivery and produced water disposal; and ancillary services including land acquisition and right-of-way negotiation, environmental and transportation services, and terminal startup, operation and management.
The team
Evolution鶹ýӳs management team is comprised of six founding partners 鶹ýӳ a group of energetic oil and gas professionals with diverse industry experience and a proven ability to execute on growth-oriented midstream projects.
Chairman and CEO John Raber leads the management team and oversees the execution of its strategic vision. He has more than 39 years of energy industry experience. In 2000, Raber co-founded ScissorTail Energy, LLC and served as its President and Chief Operating Officer until 2005, when Copano Energy, LLC purchased ScissorTail for US$500 million. Copano is now a wholly owned subsidiary of Kinder Morgan. Following the sale, Raber served as Executive Vice President of Copano until 2010. Prior to leading the formation of Evolution Midstream, he led Raber Consulting, a midstream consulting service with customers including Kinder Morgan, Copano and Rice Energy Inc.
Evolution鶹ýӳs other founding members are Vice President of Corporate Development Jeff Oliver, Vice President of Engineering Chuck Burris, Vice President and General Counsel Raj Basi, Vice President of Business Development Tyler Shaw and Vice President of Marketing Shannon Swanson.
A CEO's perspective
鶹ýӳWe are excited to partner with EnCap Flatrock, the nation鶹ýӳs undisputed leader in midstream private equity,鶹ýӳ said Raber. 鶹ýӳEnCap Flatrock鶹ýӳs financial support and deep understanding of the entire midstream value chain will help us provide a valuable portfolio of midstream solutions to North America鶹ýӳs oil and gas producers. Evolution鶹ýӳs goal is to create value for our customers by offering flexible commercial solutions for safely and efficiently moving hydrocarbons to the market. By providing an integrated set of midstream services, we are able to work with our customers to drive down costs and reduce environmental impact.鶹ýӳ
EnCap Flatrock Midstream comments
鶹ýӳJohn Raber鶹ýӳs outstanding track record of success in midstream is well known across the industry. The Evolution team is a highly motivated and skilled group of individuals, and we are pleased to support the growth of the company鶹ýӳs unique vision,鶹ýӳ said Morriss Hurt, a Managing Director at EnCap Flatrock and a member of Evolution Midstream鶹ýӳs Board of Directors.
Legal matters
Evolution Midstream received advice from attorneys in the Pittsburgh and Denver offices of Buchanan Ingersoll & Rooney, PC. Partner Sean Moran led the team from the Pittsburgh office. Thompson & Knight LLP represented EnCap Flatrock Midstream, with partner Sarah E. McLean leading the legal team from the firm鶹ýӳs Houston office.
Edited from various sources by
Read the article online at: /business-news/25082015/evolution-launched-with-us300-million-equity/
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