Encap

EnCap Flatrock Midstream on Wednesday announced its third big U.S. energy investment in three days, including up to $500 million in initial equity for a pair of midstream companies, bringing parent Encap Investments LP’s total commitment to the North American natural gas and oil sector to more than $10 billion.*

Dallas-based Cardinal Midstream has received a $250 million equity commitment from EnCap Flatrock Midstream to build out a Utica Shale dry gas gathering system in north central Pennsylvania and acquiring other assets across North America.

Newly launched Aspen Midstream LLC of Dallas is starting out with a $200 million initial commitment from EnCap Flatrock Midstream and company management. Aspen offers natural gas gathering, processing, compression and treating; condensate stabilization and vapor recovery; crude oil gathering and terminaling; and produced-water gathering and disposal to producers throughout North America. CEO James Clarke most recently was vice president of business development at Energy Transfer Partners LP. Aspen’s other founding executives are Chief Commercial Officer Stephen Reilly, COO Robert Underwood and Matt Ray, vice president of business development. Reilly previously served as senior director of business development at Energy Transfer, where he worked alongside Underwood, who was director of engineering; and Ray, who was director of business development.

Cardinal Midstream II LLC has secured a $200 million equity commitment from EnCap Flatrock Midstream to support midstream infrastructure development in conventional and unconventional resource plays, particularly in Texas, Louisiana, Oklahoma and New Mexico. Cardinal is focused on natural gas and crude oil gathering, compression and centralized production facilities, condensate stabilization, vapor recovery, and natural gas treating and processing. With the new commitment, Cardinal is led by CEO Doug Dormer and President Marc Lyons. Mark Ward has joined the company as COO. Ward has more than 30 years of engineering, operations and project management experience in the upstream and midstream.

Rangeland Energy is buying land near Loving, NM, where it plans to develop a large terminal facility to handle crude oil, frack sand, pipe and other products; plans for a crude oil pipeline to the terminal also are in the works, the company said Monday.

Meritage Midstream Services has completed and begun flowing gas on the Fasken Ranch lateral pipeline, which is an extension of the company’s Eagle Ford Escondido Gathering System in Webb County, TX.