M&A Deal Summary

EagleClaw Midstream Acquires Caprock Midstream

On September 5, 2018, EagleClaw Midstream acquired oil/gas exploration company Caprock Midstream from Energy Spectrum Capital for 950M USD

Acquisition Highlights
  • This is EagleClaw Midstream’s 1st transaction in the Oil/Gas Exploration sector.
  • This is EagleClaw Midstream’s largest (disclosed) transaction.
  • This is EagleClaw Midstream’s 1st transaction in the United States.
  • This is EagleClaw Midstream’s 1st transaction in Texas.

M&A Deal Summary
Date 2018-09-05
Target Caprock Midstream
Sector Oil/Gas Exploration
Buyer(s) EagleClaw Midstream
Sellers(s) Energy Spectrum Capital
Deal Type Add-on Acquisition
Deal Value 950M USD
Advisor(s) Evercore Group (Financial)
Vinson & Elkins
Orrick (Legal)

Target

Caprock Midstream

Humble, Texas, United States
Caprock Midstream LLC is a builder and developer of crude oil, natural gas and water-related midstream assets with an initial focus in Texas and Oklahoma.

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Buyer(S) 1

Buyer

EagleClaw Midstream

Midland, Texas, United States
Category Company
Founded 2012
Sector Energy Services and Equipment
DESCRIPTION

EagleClaw Midstream is a midstream company focused on developing infrastructure opportunities in the Permian Basin. EagleClaw provides natural gas producers with a wide array of midstream services including gathering, compression, treating, processing and transportation.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Energy Spectrum Capital

Dallas, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 4.5B USD
Size Large
Type Sector Focused
DESCRIPTION

Energy Spectrum Capital is a midstream private equity firm specializing in investment in buyouts and buys and build in middle-market companies. The Firm focused exclusively on the energy industry. ESC looks to make a direct investment in established companies includes oil & gas gathering and transportation systems, processing and treating facilities, storage facilities and other infrastructure facilities. ESC targets growing businesses and seeks to partner with experienced managements teams. The Firm looks to invest $50- $200 million per transaction. Energy Spectrum Capital was formed in 1995 and is based in Dallas, Texas.

DEAL STATS #
Overall 32 of 42
Sector (Oil/Gas Exploration) 6 of 11
Type (Add-on Acquisition) 15 of 21
State (Texas) 17 of 23
Country (United States) 30 of 39
Year (2018) 1 of 2
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-01 Laser Midstream

Houston, Texas, United States

Laser Midstream is focused on acquiring, building, and developing crude oil, natural gas, and water-related midstream assets throughout the United States. Laser Midstream is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 Velocity Midstream Partners II

Tulsa, Oklahoma, United States

Velocity Midstream Partners II LLC is a midstream company focused on engineering, acquiring, owning and operating efficient and cost-effective gas gathering and transportation pipelines, compression, treating and processing assets in Texas, Louisiana, and Oklahoma.

Sell -
Mergr

Product

Company

Legal