Lucid Energy Group is a startup midstream operator offering crude oil and natural gas gathering, gas compression, treating, processing and transmission services. The company will pursue greenfield initiatives and acquisitions in conventional and unconventional resource basins across the country, with a particular emphasis on the Mid‑Continent region. Lucid announced it secured a $75 million equity commitment from EnCap Flatrock Midstream to support its formation and growth. The management team is led by President Michael J. Latchem, CFO W. Kyle Bebee and COO Jay L. Langham; Latchem was directly responsible for more than $500 million of organic growth projects at prior employers, Bebee has a track record including more than 30 transactions in excess of $1.4 billion each, and Langham brings engineering, construction and operations experience in gathering and processing. The company intends to leverage its management team’s industry relationships and EnCap Flatrock’s capital and experience to pursue midstream project opportunities and creative deal structures for producers.

Total raised

$75M

Funding rounds

1

Latest round

Equity

Latest activity

Feb 2012