Edgewater Midstream Adds Strategic Horsepower with New CFO

HOUSTON – March 26, 2020 – Edgewater Midstream, LLC ("Edgewater") today announced David Anders has joined the company as its chief financial officer. Edgewater is an independent midstream energy company targeting the acquisition and greenfield development of pipeline, bulk liquids storage and terminal operations serving North American energy demand hubs. Edgewater’s business plan is to provide midstream logistics solutions to refiners, producers and marketers of crude oil, refined products and other bulk liquids. The company is backed by an initial $400 million capital commitment from EnCap Flatrock Midstream.

Mr. Anders comes to Edgewater after a 17-year tenure in Bank of America’s Energy Investment Banking Group, where he focused on the midstream sector. During his tenure, he led the evaluation, structuring and execution of mergers, acquisitions and divestitures as well as initial public offerings, follow-on equity offerings and debt offerings for public and private companies and partnerships in the midstream sector.

Mr. Anders most recently served as managing director in Bank of America’s Natural Resources Group. He received a Bachelor of Arts degree in economics from Harvard University and a Master of Business Administration from the University of Texas McCombs School of Business.

"We are excited to have David join Edgewater," said Edgewater CEO Stephen Smith. "He adds depth to our bench strength, bringing with him considerable M&A and capital markets experience in the midstream space. His strategic insight and broad range of financial capabilities will be tremendous assets and complement our experienced management team as we seek M&A and greenfield opportunities that benefit all parties at the table."

Edgewater is led by its three founders: Chief Executive Officer Stephen Smith, Chief Commercial Officer Brian Thomason and Chief Operating Officer Mike Truby. The addition of Chief Financial Officer David Anders rounds out the C-suite. The Edgewater management team now has approximately 90 years of energy industry and energy finance experience, including senior leadership roles at companies that include Genesis Energy, LP (NYSE: GEL); Motiva Enterprises, LLC; ConocoPhillips (NYSE: COP), NuStar Energy, LP (NYSE: NS).

About Edgewater Midstream, LLC

Based in Houston and established in late 2019, Edgewater Midstream provides independent midstream solutions to refiners, producers and marketers of crude oil, refined products and other bulk liquids. The company will focus on the acquisition or organic development, development and operation of pipeline, bulk liquids storage and terminal solutions between and in proximity to major North American petroleum demand hubs. Visit www.edgewatermidstream.com for more information.

About EnCap Flatrock Midstream

EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages investment commitments of nearly $9 billion from a broad group of prestigious institutional investors. EnCap Flatrock Midstream is currently making commitments to new management teams from EFM Fund IV, a $3.25 billion fund. Further information is available at www.efmidstream.com.

Media Contact:

Meredith Howard
Redbird Communications Group
(210) 737-4478
meredith@redbirdpr.com

Edgewater Midstream Announces Initial Equity Commitment from EnCap Flatrock Midstream

HOUSTON – Edgewater Midstream, LLC (“Edgewater”) today announced it has secured an initial capital commitment of $400 million from EnCap Flatrock Midstream (“EnCap Flatrock”) and the Edgewater management team. Edgewater was formed in late 2019 to provide independent midstream logistics solutions to refiners, producers and marketers of crude oil, refined products and other bulk liquids. The company will focus on the acquisition, development and operation of pipeline and terminal solutions between and in proximity to major North American petroleum trading hubs and demand centers.

Based in Houston, Edgewater is led by its three founders: Stephen Smith, chief executive officer; Brian Thomason, chief commercial officer; and Mike Truby, chief operating officer. Collectively, the Edgewater management team has more than 70 years of energy industry experience and has served in senior leadership roles at companies including Genesis Energy, LP (NYSE: GEL); Motiva Enterprises, LLC; ConocoPhillips (NYSE: COP) and NuStar Energy, LP (NYSE: NS).

“Changing dynamics in the North American petroleum market present attractive opportunities for Edgewater,” said Chief Executive Officer Stephen Smith. “We are thrilled to partner with an experienced, strategic investor like EnCap Flatrock Midstream. In addition to a large financial commitment, EnCap Flatrock’s significant midstream industry expertise, relationships and successful track record provide a formidable platform to support Edgewater’s growth.”

“Of primary importance, our culture, goals and approach to value creation and risk management are aligned,” Smith added. “When forming Edgewater, we recognized that societal, technological and policy trends are reshaping the arena in which traditional oil and gas midstream businesses operate. Our team embraces new technologies and environmentally sustainable practices.”

“We are excited to be working with Edgewater Midstream,” said EnCap Flatrock Managing Partner Gregory C. King, who is also an Edgewater board member. “Our partnership with Stephen, Brian and Mike is illustrative of our strategy of supporting outstanding leaders with superb track records and integrity. We look forward to supporting the Edgewater team as it builds an independent midstream business focused on the demand end of the value chain.”

About Edgewater Midstream, LLC

Based in Houston and established in late 2019, Edgewater Midstream provides independent midstream solutions to refiners, producers and marketers of crude oil, refined products and other bulk liquids. The company will focus on the acquisition, development and operation of pipeline and terminal solutions between and in proximity to major North American petroleum trading hubs and demand centers. Visit edgewatermidstream.com for more information.

About EnCap Flatrock Midstream

EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages investment commitments of nearly $9 billion from a broad group of prestigious institutional investors. EnCap Flatrock Midstream is currently making commitments to new management teams from EFM Fund IV, a $3.25 billion fund. Further information is available at www.efmidstream.com.

Media Contact:

Meredith Howard
Redbird Communications Group
(210) 737-4478
meredith@redbirdpr.com