Cardinal Midstream is supported by a substantial equity commitment from EnCap Flatrock Midstream and management. Established in 2008 by Flatrock Energy Advisors, LLC, and EnCap Investments L.P., EnCap Flatrock Midstream is guided by a disciplined and persistent approach to value creation through the rigorous application of intellectual and financial capital. The firm manages EnCap Flatrock Midstream Funds I, II and III, which have more than $5.6 billion in investment commitments from a broad range of prestigious institutional investors. EnCap Flatrock has more than $6.5 billion in total assets under management and dedicated to investment in the midstream sector of the energy industry. The EnCap Flatrock partnership provides an unmatched combination of operating, technical and investing expertise that uniquely positions EnCap Flatrock Midstream to meet the capital needs of the midstream industry.
The team at EnCap Flatrock offers the array of skills required to effectively meet the capital requirements of the midstream sector: deep industry expertise, significant operating experience, outstanding technical skills, industry recognition and contacts, financial sophistication and a demonstrated track record of successful private equity investing. The firm focuses on providing growth capital to proven midstream management teams in North America and is led by Dennis Jaggi, Billy Lemmons and Bill Waldrip, who have worked together for nearly all of the past 30 years in the midstream sector of the oil and gas industry. They have been directly involved in approximately $7.5 billion of midstream transactions and investments. In their previous advisory practice, Flatrock Energy Advisors, they were widely regarded as leading experts in the North American midstream market and provided evaluation, due diligence and transaction advisory services, as well as asset enhancement services on expansion, efficiency and supply matters to more than 125 midstream entities, both public and private. Flatrock was engaged in nearly all of the key producing areas in North America.
“Doug, Marc and the rest of the Cardinal team are uniquely qualified. They are seasoned midstream executives with deep understanding of upstream and midstream landscapes combined with an outstanding record of success. We are proud to partner with them again.”
~ Dennis Jaggi, Managing Partner, EnCap Flatrock Midstream