Clearfork Midstream to Acquire Azure Midstream Energy, Secures Initial Capital Commitment from EnCap Flatrock Midstream
Vinson & Elkins advised Clearfork Midstream LLC (“Clearfork”), a portfolio company of Encap Flatrock Midstream and growth-oriented midstream company providing comprehensive midstream solutions for oil and gas producers in basins across North America, with a specific focus on unconventional natural gas production in the Haynesville/Bossier Shale formation, in connection with the acquisition of Azure Midstream Energy, LLC, a portfolio company of Energy Spectrum Capital and natural gas gathering and treating platform spanning the core areas of the Haynesville Shale formation.
Vinson & Elkins also advised Clearfork in connection with its $400 million capital commitment from Encap Flatrock Midstream. This is the second significant transaction in which Vinson & Elkins has represented an Encap Flatrock Midstream portfolio company in the past six months, with the other being Moda Midstream’s sale to Enbridge in October 2021.
The V&E team for the acquisition was led by partner Matthew Falcone and senior associate Yong Eoh, with assistance from associates Kara Chung, Erik Slavin and Darren Fox. Other key team members included partner Sarah Mitchell and associate Victoria Bahrami-Negad; partner David Peck, senior associate Peter Rogers and associate Jeff Slusher; partner Sean Becker, counsel Martin Luff and associate Annie Blanc; partner Julia Petty and associate Brian DeShannon; partner Matt Dobbins and associate Kelly Rondinelli; partner John Decker, senior associate Andrew DeVore and associate Michael Carroll; partner Chris Popov; partner Darren Tucker and senior associate Evan Miller; counsel Rajesh Patel and associate Ricky Legg; partner Dave Wicklund, counsel Zach Rider and associate Ariel Guerrero-Stewart; and counsel Scot Dixon.
The V&E team for the capital commitment was led by partner Matthew Falcone and senior associate Will White, with assistance from associates Bobbi Worbington and Carli Gish. Also advising were partner Sean Becker and counsel Martin Luff; partner Julia Petty and Brian DeShannon; and partner David Peck, senior associate Peter Rogers and associate Jeff Slusher.
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