Dallas, TX-based Aspen Midstream LLC has secured an initial commitment of $200 million from private equity firm EnCap Flatrock Midstream and the Aspen Midstream management team. Launched in May 2017 and headquartered in Dallas, Aspen Midstream offers integrated midstream solutions to oil and gas producers operating across North America. Services include natural gas gathering, processing, compression and treating; condensate stabilization and vapor recovery; crude oil gathering and terminaling; and produced-water gathering and disposal.
CEO James Clarke leads the management team. He has more than 19 years of energy industry experience, most recently as vice president of business development at Energy Transfer Partners. Clarke has held various positions of increasing responsibility at Crosstex Energy, TXU Electric Power, and Dynegy. Aspen Midstream’s other founding members are chief commercial officer Stephen Reilly, COO Robert Underwood, and vice president of business development Matt Ray. Prior to the formation of Aspen Midstream, Reilly served as senior director of business development at Energy Transfer Partners, where he worked alongside Underwood, who served as director of engineering, and Ray, who served as director of business development.
Aspen Midstream was advised by Dallas law firm Mack Matheson & Marchesoni PLLC. The team was led by partner Scott H. Matheson. Thompson & Knight LLP represented EnCap Flatrock Midstream with partner Sarah E. McLean leading the legal team from the firm’s Houston office.