Midstream

Our midstream platform is managed by EnCap Flatrock Midstream (EFM), a partnership formed in 2008 between Flatrock Energy Advisors, LLC and EnCap Investments L.P. 

EFM is guided by a disciplined and persistent approach to value creation through the rigorous application of intellectual and financial capital and the investment fundamentals that have guided our firm for more than 30 years. The firm manages the EnCap Flatrock Midstream Funds I, II, III and IV, which together have approximately $9 billion in capital commitments from a broad range of prestigious institutional investors.

For every $1 spent by oil and gas producers on the upstream side, we believe that an expenditure of at least $0.15 to $0.35 is necessary to provide the traditional midstream infrastructure required to condition and deliver product from the wellhead to market. Over the past five years, more than $300 billion has been spent in the U.S. midstream sector for organic growth projects and acquisitions/dropdowns. This is a trend that is expected to continue into the future, representing a compelling opportunity set for midstream investment. EFM is also exploring opportunities to participate in the transition to a lower-carbon future, including blue and green hydrogen, renewable natural gas and carbon capture.

For comprehensive information about EFM, including analysis of the midstream opportunity set, material on the EFM management team, approach and more detail on current and realized portfolio companies, please visit www.efmidstream.com.

Midstream Portfolio

Midstream Fund History

Since its formation in 2008, EnCap Flatrock Midstream has issued four funds with approximately $9 billion in capital commitments.

January 2018 EnCap Flatrock Midstream Fund IV Growth Capital $3,250,000,000
May 2014 EnCap Flatrock Midstream Fund III Growth Capital $3,000,000,000
July 2012 EnCap Flatrock Midstream Fund II Growth Capital $1,750,000,000
March 2010 EnCap Flatrock Midstream Fund I Growth Capital $791,600,000

The Right Partners

EFM focuses on backing the best management teams in the midstream industry. We look for a variety of attributes in each of the teams we support — certain skill sets that come together to form a whole, like the pieces of a puzzle.

EnCap Flatrock Midstream portfolio characteristics

Learn more about our Midstream Investment Fundamentals