Clear Creek Midstream announced Tuesday it has secured an initial venture capital commitment of $300 million from private equity firm EnCap Flatrock Midstream.
Headquartered in Houston and established in late 2018, Clear Creek is an independent midstreamer focused on the development of midstream infrastructure for oil and gas producers working in shale plays across North America.
Clear Creek’s three founders have more than 50 years of combined experience in the energy industry and have generated in excess of $4 billion in transactions across the midstream sector.
For the past three years, the trio worked together at EnLink Midstream, where they originated, built and operated large-scale crude oil gathering systems in the Permian Basin, Kallanish Energy learns.
The Clear Creek management team is led by CEO and founder Rick Van Eyk, a 17-year industry veteran. Before founding Clear Creek, Van Eyk served as vice president of Business Development, Liquids and vice president of Commercial Crude at EnLink Midstream.
Prior to EnLink, 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.
“Our experience is a great fit with EnCap Flatrock’s financial strength and approach to creating value in the midstream sector,” said Van Eyk.
Joining 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.
Kley has worked in the energy industry for more than 27 years. He most recently served as vice president of Engineering at EnLink Midstream.
Sturdevant has held a variety of roles in the energy industry. His expertise includes business development, commercial, and acquisitions and divestitures. He has held positions at EnLink and Occidental.
“We are excited to welcome the Clear Creek team to EnCap Flatrock Midstream,” said EnCap Flatrock managing partner Greg King, a member of the Clear Creek board. “Rick Van Eyk, David Kley and Chase Sturdevant are widely recognized by producers across the country as trusted partners.”
Porter and Hedges LLP served as legal adviser to Clear Creek, while Locke Lord LLP acted as counsel to EnCap Flatrock Midstream.
This post appeared first on Kallanish Energy News.