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EnCap to Invest $400 Million in New Midstream Company
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Nuevo Midstream Dos, LLC reported that the company has secured an initial equity commitment of $400 million from EnCap Flatrock Midstream and the Nuevo Dos management team.
Nuevo Dos was formed earlier this year by the team that led its successful predecessor company, Nuevo Midstream, LLC, which was also backed by EnCap Flatrock. After developing a significant midstream footprint in the Delaware Basin, Nuevo was sold to Western Gas Partners LP in October 2014 for $1.5 billion.
Nuevo Dos is pursuing organic and acquisition opportunities across North America. The members of the Nuevo Dos management team have significant experience in developing, constructing and operating strategic midstream assets and in oil, gas and liquids marketing. Expertise includes natural gas gathering…
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