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Cardinal Midstream Scores Equity Commitment
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Cardinal Midstream II LLC has secured a $200 million equity commitment from EnCap Flatrock Midstream of San Antonio to support the continued growth and development of the company’s core business.
The company will pursue midstream development opportunities, in both conventional and unconventional resource plays across North America with an emphasis on areas where the management team has significant experience including Texas, Louisiana, Oklahoma and New Mexico.
Cardinal was founded in 2008 with an initial $75 million equity commitment from EnCap Investments L.P. and EnCap Flatrock Midstream. In 2010, the equity commitment to Cardinal was increased to $280 million. Cardinal acquired and developed a substantial natural gas gathering, treating and processing system in the Arkoma Woodford…
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