FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Tall Oak Midstream Secures $100MM From Compass Bank, Others

October 17, 2014, 07:14 AM
Filed Under: Energy

Tall Oak Midstream, LLC (“Tall Oak”) announced its subsidiary, TOMPC, LLC, has secured a $100 million senior credit facility that can be expanded to $150 million. Formed in early 2014, Tall Oak is an independent midstream company focused on providing midstream services to oil and gas producers in the Mid-Continent. Together with $400 million in prior private equity commitments from EnCap Flatrock Midstream and Tall Oak’s founders, the credit facility brings Tall Oak’s total financing to more than half a billion dollars. These funds support the build-out and expansion of Tall Oak’s natural gas gathering and processing system in the Central Northern Oklahoma Woodford (CNOW) play.

Five banks participated in the credit facility with Capital One Securities Inc. and Compass Bank acting as joint lead arrangers and Amegy Bank, BancFirst and Bank of Oklahoma serving as additional participants. Paul Hastings LLP provided legal counsel to Tall Oak, and Sidley Austin LLP served as counsel to the underwriters. The transaction closed on Wednesday, Oct. 15.

“Our gas gathering and processing system has had an outstanding response from producers in the CNOW play, where production continues to accelerate. This additional financing gives us a diversified source of capital that allows us to execute on the initial build-out and rapidly expand the system’s capabilities,” said Tall Oak President and CEO Ryan Lewellyn.

Based in Oklahoma City, Tall Oak Midstream is an innovative midstream company led by its four founders: Ryan D. Lewellyn, CEO; Max J. Myers, CFO; Carlos P. Evans, CCO; and Lindel R. Larison, COO. Tall Oak is dedicated to bringing a fresh perspective to serving oil and gas producers with a full suite of midstream services. Core capabilities include natural gas gathering, compression, treating and processing; crude oil gathering and transportation; condensate and water handling; and product marketing solutions.

EnCap Flatrock Midstream provides value-added private equity 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. Based in San Antonio, Texas, and Edmond, Oklahoma, EnCap Flatrock is led by Managing Partners William D. Waldrip, William R. Lemmons Jr. and Dennis F. Jaggi. The firm manages investment commitments of nearly $6 billion from a broad group of institutional investors. EnCap Flatrock is currently making commitments to new management teams from EFM Fund III, a $3 billion fund.

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.