Clear Creek Midstream closes equity commitment
Published by Lydia Woellwarth,
Clear Creek Midstream, LLC has announced an initial venture capital commitment of US$300 million from EnCap Flatrock Midstream. Headquartered in Houston and established in late 2018, Clear Creek is an independent energy company focused on the development of midstream infrastructure for oil and gas producers working in shale plays across North America. Clear Creek 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 US$4 billion in transactions across the midstream sector. For the past three years, they worked together at EnLink Midstream, where they originated, built and operated large-scale crude oil gathering systems in the Permian Basin.
The Clear Creek management team is led by Chief Executive Officer and founder Rick Van Eyk, an industry veteran with a 17 year track record of value creation at large energy companies including EnLink Midstream and Occidental Petroleum. He has generated billions of dollars of successful transactions and has led large teams working on the acquisition, construction and operation of approximately 3600 miles of crude oil pipelines. Before forming Clear Creek, he served as Vice President of business development, liquids and Vice President of commercial crude at EnLink Midstream. Prior to EnLink, Mr. Van Eyk was Vice President of midstream strategic development at Occidental Petroleum, where he was one of two executives running Occidental’s Centurion Pipeline System.
Clear Creek Midsteam CEO Rick Van Eyk
Joining Mr. Van Eyk as co-founders and members of the Clear Creek management team are Chief Operating Officer David Kley and Chief Commercial Officer Chase Sturdevant. Mr. Kley has worked in the energy industry for more than 27 years. His broad background includes experience in developing, engineering and operating crude oil, natural gas and NGL systems. He been directly involved in the execution of multiple midstream greenfield projects and acquisitions. Mr. Kley most recently served as Vice President of engineering at EnLink Midstream. Mr. Sturdevant has held a variety of roles in the energy industry, each with increasing responsibility. His expertise includes business development, commercial, and acquisitions and divestitures. He played a senior role in the evaluation and execution of several large transformational projects at EnLink Midstream and Occidental Petroleum.
About Clear Creek Midstream, LLC
Clear Creek Midstream is an independent energy company that provides a full suite of midstream services to oil and gas producers across North America. Headquartered in Houston, Clear Creek is led by a team of seasoned industry professionals who together have more than 50 years of experience in the energy industry. Clear Creek is backed by EnCap Flatrock Midstream.
About EnCap Flatrock Midstream
nCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages investment commitments of nearly US$9 billion from a broad group of prestigious institutional investors. EnCap Flatrock Midstream is currently making commitments to new management teams from EFM Fund IV, a US$3.25 billion fund.
Read the article online at: https://www.worldpipelines.com/business-news/30012019/clear-creek-midstream-closes-equity-commitment/
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