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New Midstream Company Secures $750MM Equity Deal
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Moda Midstream, LLC, a liquids terminaling and logistics provider, announced today that it has secured an initial equity commitment of $750 million from EnCap Flatrock Midstream and the Moda management team. Moda was formed earlier this year to provide independent terminaling, storage and distribution solutions to refiners, petrochemical manufacturers, marketers and producers of crude oil, condensate, NGLs, refined products and other bulk liquids. Moda’s expertise includes deepwater vessel loading and unloading, storage, blending, processing and pipeline operations. The company is focused on developing safe, reliable solutions that offer flexible, multimodal connectivity and provide the optionality customers value.
Moda Midstream is led by its four founding partners, who have a long and…
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