Tall Oak Midstream LLC received an initial equity commitment of up to $100 million from EnCap Flatrock Midstream, a private-equity firm, the company said Feb. 11. EnCap Flatrock may increase this commitment, the company added.
“We are excited to be partnering with EnCap Flatrock and look forward to working together to build an innovative midstream company. Tall Oak has had a great response from the Oklahoma oil and gas community,” said Tall Oak’s president and CEO, Ryan Lewellyn.
Jimmy Vallee, of law firm Paul Hastings LLP, served as lead legal counsel for Tall Oak, the company said. Sarah McClean, of law firm Thompson & Knight LLP, represented EnCap Flatrock, the company added.
Dennis Jaggi, a managing partner at EnCap Flatrock and a member of Tall Oak’s board of directors, said, “Our initial equity commitment to Tall Oak reflects our confidence in Ryan and the outstanding quality of the management team he has assembled. They have a customer-driven approach and experience with significant midstream assets located in complex resource plays. We look forward to supporting Tall Oak’s growth.”
Tall Oak Midstream was formed early this year, the company said. It is led by four founding partners-- Lewellyn; chief commercial officer Carlos P. Evans; chief financial officer Max J. Myers; and chief operating officer Lindel R. Larison, the company said.
“One of the strengths of our team is in the unique skill set each one of us brings to Tall Oak. We have diverse and complementary experience in both the midstream and upstream sectors, and that gives us a good understanding of our customers’ needs. We’re dedicated to creating a company that looks at midstream services through that lens, putting the customer first and designing innovative midstream solutions that build value for oil and gas producers,” added Lewellyn.
Based in Oklahoma City, Tall Oak Midstream provides oil and gas producers with midstream services.
EnCap Flatrock Midstream provides private-equity capital to proven management teams focusing on midstream infrastructure opportunities across North America. It is based in San Antonio.
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