Marcellus / Bakken Shale / Gulf Coast / Utica / Mid-Continent / Shale Daily / Northeast / Rockies/Other / Permian Basin / NGI All News Access

Newly Formed Evolution Midstream Secures $300M Equity Commitment

Denver's Evolution Midstream LLC, launched in July to provide integrated solutions across the onshore, has secured $300 million from a Texas private equity firm and management.

San Antonio, TX-based EnCap Flatrock Midstream is providing the funding for Evolution, whose initial focus is greenfield and acquisition opportunities in the Rockies, Bakken, Shale, Permian Basin, Midcontinent and Appalachia.

"EnCap Flatrock's financial support and deep understanding of the entire midstream value chain will help us provide a valuable portfolio of midstream solutions to North America's oil and gas producers," said Evolution CEO John Raber. "Evolution's goal is to create value for our customers by offering flexible commercial solutions for safely and efficiently moving hydrocarbons to the market."

Evolution's management team is comprised of six partners. Raber in 2000 co-founded ScissorTail Energy LLC and served as president and COO until 2005, when Copano Energy LLC purchased the company for $500 million (see Daily GPIJune 29, 2006). Copano now is a Kinder Morgan Inc. subsidiary (see Daily GPIJan. 31, 2013).

Following the sale, Raber served as executive vice president of Copano until 2010. Prior to forming Evolution, he led Raber Consulting, a midstream consulting service.

Other founding members are Vice President of Corporate Development Jeff Oliver, Vice President of Engineering Chuck Burris, General Counsel Raj Basi, Vice President of Business Development Tyler Shaw and Vice President of Marketing Shannon Swanson.

"John Raber's outstanding track record of success in midstream is well known across the industry," said EnCap Managing Director Morriss Hurt, who also serves on Evolution's board.

Recent Articles by Carolyn Davis