Isis Energy LLC, a new midstream company focused on the transportation, storage and distribution of crude oil and related products, has received a $150 million commitment from oil and gas private equity firm EnCap Flatrock Midstream. The Houston-based Isis will use the capital to provide logistics and infrastructure for moving, storing and blending low-gravity crude and other products including residual fuel oil, asphalt and reclaimed products. Isis will serve producers, refiners, traders and other marketers and suppliers by providing rail and waterborne solutions in the United States and Canada.
Isis is led by President A.J. Brass, who has been involved in the refining, transportation, marketing and distribution of crude and petroleum products for more than 20 years, most recently as president of Gulf Coast Asphalt Company LLC. (GCAC), a position he held for the past five years.
In addition to Brass, the management team includes CFO Jason Goldstein; vice president Joe Mattingly Jr.; vice president Kenny Hucker; and vice president and general counsel Dave Hubenak. Brass, Mattingly and Hucker worked together at GCAC in various roles for the past 15 years. After 17 years as an investment banker, Goldstein joined GCAC in 2010 from Blossom Street Capital, where he was a partner. Hubenak joined GCAC in 2012 from Tesco Corp., where he served as deputy general counsel.
Locke Lorde LLP provided legal counsel to Isis Energy. Thompson & Knight LLP served as legal counsel to EnCap Flatrock.