M&A Deal Summary

Pin Oak Group Acquires Gravity Midstream

On October 17, 2017, Pin Oak Group acquired oil/gas exploration company Gravity Midstream from EnCap Flatrock Midstream

Acquisition Highlights
  • This is Pin Oak Group’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Pin Oak Group’s 1st transaction in the United States.
  • This is Pin Oak Group’s 1st transaction in Texas.

M&A Deal Summary

Date 2017-10-17
Target Gravity Midstream
Sector Oil/Gas Exploration
Buyer(s) Pin Oak Group
Sellers(s) EnCap Flatrock Midstream
Deal Type Add-on Acquisition

Target

Gravity Midstream

Houston, Texas, United States
Gravity Midstream is serving the North American refining and distribution complex with supply, infrastructure and logistics solutions. Gravity Midstream is based in Houston, Texas.

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Buyer(S) 1

Buyer

Pin Oak Group

San Antonio, Texas, United States

Category Company
Founded 2017
Sector Transportation
DESCRIPTION

?Pin Oak Group owns and operates a network of integrated midstream assets offering multi-modal logistic solutions for the transportation, storage, and distribution of crude oil, refined products, and natural gas liquids. Pin Oak Group was founded in 2017 and is based in San Antonio, Texas.


DEAL STATS #
Overall 1 of 1
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2017 M&A 1 of 1

Seller(S) 1

SELLER

EnCap Flatrock Midstream

San Antonio, Texas, United States

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 2008
PE ASSETS 9.0B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

EnCap Flatrock Midstream is a private investment firm focused on venture related opportunities in the midstream energy sector. EnCap Flatrock seeks majority positions in natural gas gathering, treating, processing and storage; crude oil gathering and transportation; and natural gas liquids fractionation, storage and transportation. EnCap Flatrock Midstream is affiliated with investment firm EnCap Investments, a large diversified energy investment firm. EnCap Flatrock is based in San Antonio, Texas.


DEAL STATS #
Overall 7 of 16
Sector: Oil/Gas Exploration M&A 6 of 12
Type: Add-on Acquisition M&A Deals 5 of 10
State: Texas M&A 5 of 11
Country: United States M&A 7 of 16
Year: 2017 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-31 Cardinal Midstream III

Dallas, Texas, United States

Cardinal Midstream III pursues midstream acquisitions and development opportunities in both conventional and unconventional resource plays across North America. Cardinal Midstream III was formed in 2017 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-03 Rangeland Energy II

Sugar Land, Texas, United States

Rangeland II owns and operates the RIO System, a multipart crude oil and frac sand logistics systems. The system provides access and optionality to multiple crude oil producers and end markets and consists of the RIO Pipeline System and the RIO Hub. Rangeland Energy II was founded in 2013 and is based in Sugar Land, Texas.

Sell -