Rangeland Energy is a midstream company that meets the infrastructure requirements of crude oil marketers, refiners and producers in emerging resource plays. We are distinguished by exceptional customer service, a strong and successful track record, and a highly experienced management team. Rangelend's senior management team has more than 125 years of collective experience in the energy industry and long individual histories of midstream success. The company is led by Christopher W. Keene, President & CEO; Steve Broker, Executive Vice President & COO; and Rafael Colaco, Senior Vice President, Engineering & Operations.
Rangeland's goal is to be the first choice for moving crude oil to high value markets. From the company's formation in November 2009 through late 2012, Rangeland focused on the successful ground-up development of the COLT Hub, North Dakota's largest open-access crude oil marketing hub. Construction of the COLT facility began in May 2011 and the facility came into service in May 2012. COLT was acquired by Inergy Midstream, L.P. in December 2012. Learn more about COLT here.
Today we are building on our expertise and successful execution in the Bakken by pursuing similar opportunities in emerging shale producing areas across North America. These include West Texas, the Gulf Coast, Canada and California where Rangeland is pursuing the greenfield development and acquisition of midstream assets including gathering, transmission and storage and rail terminal facilities. We have acquired more than 300 acres in Eddy County, New Mexico, where Rangeland will develop the RIO Hub, a large crude oil and frac sand terminal to serve producers in the Delaware Basin. The RIO Pipeline will connect the hub to market centers in Midland and Colorado City.
Rangeland Energy is supported by private equity commitments from EnCap Flatrock Midstream of San Antonio, Texas. Established in 2008 by Flatrock Energy Advisors, LLC and EnCap Investments L.P., EnCap Flatrock Midstream has more than $3 billion in equity under management and dedicated to investment in the midstream sector of the energy industry. EnCap is currently investing out of Fund II, a $1.75 billion fund that closed in July 2012.