EnCap Flatrock Midstream Commits $200M to Vecino Energy's Equity

Source: www.gulfoilandgas.com 7/19/2022, Location: North America

Vecino Energy Partners, LLC ("Vecino") stated that its management team, EnCap Flatrock Midstream ("EnCap Flatrock"), and other investors have committed $200 million in equity to the company. Vecino intends to use its extensive energy experience, which includes executive positions at public and private companies focused on upstream reserve development, oil and gas marketing, wellhead to consumer midstream systems, refining, and heavy product storage and distribution, to acquire and develop infrastructure to support the domestic oil and gas industry.

Vecino’s management team is led by Chief Executive Officer Wayne Ziegler, President David Ash and a team of industry veterans, including Chief Operating Officer Jasen Walshak and Executive Vice President of Strategy and Business Development Nelson Ferries. Mr. Ziegler has extensive leadership experience, including previous roles as Vice President of the Southern Region at Koch Materials, Vice President of SemGas and most recently CEO at Nueces Midstream. Mr. Ash spent the first half of his career in investment and merchant banking before moving to San Antonio to pursue executive roles at BlackBrush Oil & Gas, TexStar Midstream and Nueces Midstream. Mr. Walshak most recently served as COO at Nueces Midstream and prior to that role, he spent over a decade at BlackBrush Oil & Gas in multiple leadership positions, including western division manager. Mr. Ferries began his 40-year career as a drilling and field engineer with Gulf Oil and Chevron and later transitioned to business development roles with Chevron, PG&E, Enron and spent nearly two decades at BP Energy Company before joining the rest of the management team at Nueces Midstream.

“We are truly excited to work with the EnCap Flatrock team and believe that the alignment of both our investment philosophies, particularly in light of current market conditions, will result in a very productive partnership,” said Mr. Ziegler.

Mr. Ash commented, “We feel extremely fortunate to be surrounded by some of the best leaders in the business, both on our management team and at the board level.”

“We are pleased to partner with Vecino Energy as the Company works to acquire, develop and commercialize oil and gas infrastructure,” said EnCap Flatrock Managing Partner Dave Kurtz. “We have closely followed Vecino’s management team for years, and we are confident that they will bring a thoughtful approach to energy investment and operations, driven by the team’s extensive and diverse backgrounds, which span across multiple commodities, roles and basins.”

Vecino was advised by Kirkland & Ellis LLP, with partner Kyle M. Watson leading the firm’s legal team. Winston & Strawn LLP served as legal counsel to EnCap Flatrock, with partner Isaac E. Griesbaum in the lead role.


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