Evolution Midstream LLC received a $300 million equity commitment from private-equity firm EnCap Flatrock Midstream, the company said Aug. 24. Evolution’s management team contributed some of the commitment, the company added.
Denver-based Evolution was launched in July and provides greenfield and strategic acquisition solutions to operators in the Rockies, Bakken Shale, Permian Basin, Midcontinent and Appalachia. Services include natural gas gathering and processing, treating and compression and crude oil gathering, transportation and marketing. Freshwater will be delivered and produced water will be disposed. Other services include right-of-way negotiation, environmental and transportation services, and terminal startup, operation and management.
Chairman and CEO John A. Raber leads the six-person management team. He has more than 39 years of energy industry experience. Most recently, he led midstream consulting service Raber Consulting.
In 2000, he co-founded ScissorTail Energy LLC and was president and COO until it was acquired by Copano Energy LLC in 2005. Copano is now a wholly owned subsidiary of Kinder Morgan Inc. Until 2010, Raber was executive vice president of Copano.
Evolution’s other founding members are Jeff Oliver, vice president of corporate development ; Chuck Burris, vice president of engineering; Raj Basi, vice president and general counsel; Tyler Shaw, vice president of business development and Shannon Swanson, vice president of marketing.
“John Raber’s 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’s unique vision,” said Morriss Hurt, a managing director at EnCap Flatrock and a member of Evolution Midstream’s board of directors.
Buchanan Ingersoll & Rooney PC was Evolution’s legal counsel. Thompson & Knight LLP was EnCap FlatRock’s legal counsel.
John A. Raber, chairman and CEO Source: Evolution Midstream
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