Rangeland Energy lands $200M investment from EnCap Flatrock

Rangeland Energy LLC has lined up $200 million in equity financing from EnCap Flatrock Midstream.

EnCap Flatrock Midstream has agreed to furnish Rangeland Energy LLC with $200 million in equity financing to support and expand operations.

Sugar Land-based Rangeland, a midstream company, develops the pipeline and rail infrastructure to gather and store crude oil, natural gas, natural gas liquids and other petroleum products. The company then ships the product to refineries and hubs across North America. Rangeland focuses on developing infrastructure to support emerging shale plays.

In November, Rangeland said it would sell the company to Kansas City, Mo.-based Inergy Midstream LP (NYSE: NRGM), though its management team retained the Rangeland name and planned to continue pursuing midstream development opportunities in North America.

EnCap Flatrock provided the $200 million in equity financing from EnCap Flatrock Midstream Fund II, which closed in July 2012 with $1.75 billion.

Jones Day served as legal counsel to Rangeland and Thompson & Knight represented EnCap Flatrock Midstream.

San Antonio-based EnCap Flatrock Midstream provides private equity capital to management teams of promising midstream companies across North America. EnCap Flatrock was founded in 2008 by EnCap Investments LP and Flatrock Energy Advisors.

Rangeland was formed in 2009 and has been backed by private equity commitments from EnCap Flatrock.

James Aldridge oversees online content of the newspaper; edits and reports stories for the online edition.

Source: http://feedproxy.google.com/~r/vertical_13/~3/090cgVTO_Ek/rangeland-energy-lands-200m.html

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