Candor Midstream, LLC, a Houston, TX-based independent energy company that provides a full suite of midstream services to oil and gas producers across the U.S., received an initial venture capital commitment of $200m.
EnCap Flatrock Midstream made the investment.
Established in 2017, Candor offers tailored midstream solutions including gas gathering, processing and treating; crude oil gathering, terminaling and logistics; and produced water gathering.
It is pursuing organic, greenfield projects and select acquisition opportunities.
The company’s management team is led by founder, President and Chief Executive Officer Darrel Hagerman, a 33-year energy industry veteran, and co-founder and Chief Commercial Officer Derek Gonseaux. Other key members are Chief Financial Officer Eric Howell and Senior Vice President, Operations Barry Robison.
Crain, Caton & James served as legal adviser to Candor with partners David L. Griffis, Jonathan T. Bickham and Larry George in the lead roles from the firm’s Houston office. Gibson, Dunn & Crutcher LLP served as counsel to EnCap Flatrock Midstream with partners Hillary H. Holmes and Beau Stark in the lead roles from Houston and Denver, respectively.
FinSMEs
22/08/2018