Rangeland Energy, LLC Secures Equity Commitment from EnCap Energy Infrastructure Fund
Sugar Land, TX, November 10, 2009 - Rangeland Energy, LLC is pleased to announce it has secured a private equity commitment from EnCap Energy Infrastructure Fund, L.P., a private equity fund managed by EnCap Investments and Flatrock Energy Advisors. Rangeland plans to leverage the experience of its management team to develop, own and operate a portfolio of midstream assets. The company will focus on development and acquisition projects in the emerging resource plays including the Bakken oil-shale play in North Dakota and Montana, and in the more traditional crude oil producing areas of the Rockies and the Gulf Coast. Rangeland will be headquartered in Sugar Land, TX (Houston area).
Rangeland is led by Christopher W. Keene and Arturo V. Vivar, who represent a combined 45 years of midstream experience in the crude oil, natural gas and refined product sectors. Keene most recently served as Vice President of Business Development for Sunoco Logistics Partners L.P., where he had commercial responsibility for the company's existing business and growth-related investments. Vivar served as President of Penumbra Energy, where he focused on developing energy infrastructure, acquisitions, and advising energy clients in strategy, commodity marketing, hedging and risk management.
"Rangeland Energy is excited to partner with EnCap and Flatrock in their midstream infrastructure fund," said Keene, President and CEO of Rangeland. "Combining our team with the midstream expertise of Flatrock and the private equity expertise of EnCap makes us unique in our approach to the market."
Bill Waldrip, President of Flatrock Energy Advisors said, "Chris and Art have a proven track record of developing successful projects, executing acquisitions and growing businesses. The Rangeland team creates a great complement to our fund by providing expertise and experience in the gathering of crude oil and the handling of refined products, and we believe that Rangeland is well-positioned to execute its business plan in the Bakken and other crude oil producing regions. We are excited to be a part of this endeavor."
About the EnCap Energy Infrastructure Fund, L.P.
EnCap Investments, L.P. and Flatrock Energy Advisors, LLC have partnered to form and manage the EnCap Energy Infrastructure Fund (EEIF). Together EnCap and Flatrock have secured capital commitments to provide private equity capital for midstream energy infrastructure opportunities throughout North America.
EEIF focuses on providing growth capital to proven midstream management teams in North America and pursues attractive investment opportunities in:
- natural gas gathering, treating, compression, processing and storage operations
- oil gathering and transportation
- natural gas liquid fractionation, storage and transportation
- produced water handling and disposal
- CO2 gathering, transportation and sequestration
About EnCap Investments, L.P.
Since 1988, EnCap has been a leading provider of private equity to the independent sector of the U.S. oil & gas industry, closing over $6.0 billion of principal investments and corporate finance transactions. The firm has established 13 oil and gas investment funds with aggregate capital commitments of approximately $6.5 billion and currently manages capital on behalf of over 150 prestigious U.S. and European institutions. EnCap is managed by its four founding partners David B. Miller, Gary R. Petersen, D. Martin Phillips and Robert L. Zorich. For more information, visit www.encapinvestments.com.
About Flatrock Energy Advisors, LLC
In 2008 Flatrock Energy Advisors exited its midstream advisory practice to partner with EnCap in managing the EnCap Energy Infrastructure Fund. The Flatrock team is led by Dennis Jaggi, Billy Lemmons and Bill Waldrip, who have worked together for virtually all of the past 30 years in the midstream sector of the oil and gas industry. With over 87 years of midstream experience and 125 prior advisory clients in the sector, the Flatrock Principals have been directly involved in a total of approximately $3.3 billion in energy transactions and investments. For more information, visit www.flatrockadvisors.com.
Contact for Rangeland Energy, LLC
Christopher W. Keene