EnCap Flatrock Midstream and Tall Oak Midstream Announce Formation of Tall Oak Midstream III, LLC

July 19, 2017

Houston – Paul Hastings LLP, a leading global law firm, announced today that the firm served as legal counsel to Tall Oak Midstream in the formation of Tall Oak Midstream III, LLC (TOM III). The new company will pursue oil and gas midstream opportunities across North America outside the Northwest STACK. TOM III was formed with an initial equity commitment of up to $200 million from private equity firm EnCap Flatrock Midstream and Tall Oak management.

Energy M&A partner Jimmy Vallee led the Paul Hastings team, which also included Tax partner Greg Nelson; and associates Isaac Griesbaum and Ted Seeger.

Since 2014, Paul Hastings has represented Tall Oak Midstream in securing over $1 billion in equity and debt capital from EnCap Flatrock and certain affiliated funds and certain banks. Tall Oak was formed in early 2014 with an initial $100 million equity commitment from EnCap Flatrock and Tall Oak’s founders, and that equity commitment was later increased to $400 million in June 2014. Tall Oak also obtained a $100 million senior credit facility that was expanded to $150 million to support Tall Oak’s subsidiaries, TOMPC, LLC and TOM-STACK, LLC.  The Firm also represented Tall Oak Midstream in the sale of TOMPC and TOM-STACK to a subsidiary of EnLink Midstream Partners, LP and EnLink Midstream, LLC for approximately $1.55 billion, which closed in January 2016.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.

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