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Riverstone Holdings and Goldman Sachs Merchant Banking Division Acquire Lucid Energy II for $1.6B

Vinson & Elkins advised Lucid Energy Group II, LLC (“Lucid II”), a portfolio company of EnCap Flatrock Midstream, in the sale of Lucid II to a joint venture controlled by Riverstone Global Energy and Power Fund VI, L.P., an investment fund managed by Riverstone Holdings LLC, and investment funds managed by the Merchant Banking Division of The Goldman Sachs Group Inc. for approximately $1.6 billion in cash.

Lucid II provides gathering and processing services primarily in the Delaware Basin.

The V&E team was led by partners Bryan Loocke and James Garrett with primary assistance from partners Jason McIntosh, David Cole and Ryan Carney and associates Connor Long and Jonathan Sapp.

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