EVX Midstream Partners LLC was formed through a $75 million equity commitment from Five Point Capital Midstream Fund II LP, Five Point Capital Partners LLC said July 20.
EVX develops oil and natural gas, and also develops produced-water gathering, processing, treatment and transportation assets, in the Permian Basin, Eagle Ford Shale and Midcontinent.
Its three founders are Herb Chambers IV, president and CEO; Charlie Flynn, COO; and Brian Kellar, CFO. The team has more than 50 years’ collective experience originating transactions and projects, structuring and developing midstream assets and operating assets post-acquisition or completion.
"Future demand for infrastructure remains irrefutable, and Five Point is well-positioned to capitalize on producers' needs in the midstream energy space. Despite current crude pricing, the addressable market for Five Point is expanding as upstream operators focus their limited capex on drilling and development rather than building midstream assets. We will continue to opportunistically deploy capital through partnerships with industry-leading executives and asset acquisitions that fall squarely within the firm's strategy, David Capobianco, Five Point’s CEO and managing partner, said.
EVX Midstream Partners LLC is based in The Woodlands, Texas.
Five Point Capital Partners LLC is also based in The Woodlands.
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