Clear Creek Midstream, an independent energy company, has announced an initial venture capital commitment of $300m from EnCap Flatrock Midstream.
Established in late 2018, Clear Creek is headquartered in Houston. The company is focused on the development of midstream infrastructure for oil and gas producers working in shale plays across North America. It is pursuing organic, greenfield projects and select acquisition opportunities.
Clear Creek’s three founders have more than 50 years of combined experience in the energy industry and have generated in excess of $4bn in transactions across the midstream sector.
The three founders worked together at EnLink Midstream over the past three years are were involved in originating, building and operating large-scale crude oil gathering systems in the Permian Basin.
The chief executive officer and founder of Clear Creek, Rick Van Eyk is an industry veteran with a 17-year track record of value creation at large energy companies including EnLink Midstream and Occidental Petroleum.
EnCap Flatrock managing partner and a member of the Clear Creek board of directors Greg King said: “We are excited to welcome the Clear Creek team to EnCap Flatrock Midstream. Rick Van Eyk, David Kley and Chase Sturdevant are widely recognized by producers across the country as trusted partners. We look forward to bringing our expertise and contacts to bear as we help them grow their business.”
EnCap Flatrock Midstream is formed in 2008 by a partnership between EnCap Investments and Flatrock Energy Advisors and is head quartered in San Antonio with offices in Oklahoma City and Houston.
EnCap Flatrock provides value-added growth capital to verified management teams focused on midstream infrastructure opportunities across North America.
Clear Creek CEO Rick Van Eyk said : “Our experience is a great fit with EnCap Flatrock’s financial strength and approach to creating value in the midstream sector.
“The team at EnCap Flatrock understands that midstream is a service business. Success depends on strong producer relationships, an innovative approach to problem-solving and developing reliable, cost-effective solutions that ensure delivery to premium markets.”