Aspen Midstream Receives $200 Million Commitment from EnCap
Aspen Midstream LLC announced today that the company has secured a commitment of $200 million from private equity group EnCap Flatrock Midstream. Aspen Midstream was launched this May and is headquartered in Dallas, Texas.
Responding to questions from Oil & Gas 360®, Aspen CEO James Clarke commented through a spokesperson, “Aspen Midstream will be looking at a host of plays across the country. We look for quality projects with quality producers. We’ll go where our relationships take us.”
Aspen’s management team consists of four founding partners who have been working for eight years in the midstream space—principally in the Eagle Ford, Delaware, Midland, Midcontinent, Haynesville and Barnett plays.
Three of the four founding partners, CEO James Clarke, CCO Stephen Reilly, and COO Robert Underwood previously worked at Energy Transfer Partners (ticker: ETP), while Business Development VP Matt Ray recently worked at Energy Transfer Equity (ticker: ETE).
Clarke held posts at Energy Transfer Partners as VP Business Development and as VP Commercial Operations for ETC Texas.
“We are excited to create a fast-paced entrepreneurial environment and leverage our experience, relationships and deep understanding of producer needs,” Clarke said. “Our partnership with EnCap Flatrock brings strong financial support from the largest provider of value-added venture capital in the sector.”
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