Clearfork Midstream Secures $400 Million Commitment, Plans to Acquire Azure Midstream

(P&GJ) — Clearfork Midstream announced it has secured a $400 million commitment from EnCap Flatrock Midstream and will acquire Azure Midstream Energy.

The acquisition is expected to close during the first quarter of 2022, Clearfork Midstream said.

Fort Worth, Texas-based Clearfork Midstream formed in 2020 to provide midstream solutions for oil and gas producers in basins across North America, with a specific emphasis on unconventional natural gas production in the Haynesville/Bossier Shale formation in North Louisiana and East Texas.

EnCap Flatrock Midstream has the financial strength Clearfork needs and understands midstream better than anyone in the venture capital business, Clearfork CEO Kipper Overstreet said.

“They aligned with us on the acquisition of Azure Midstream and Azure’s growth potential,” Overstreet said. “We are very pleased to be part of the EFM family of companies.”

Azure Midstream’s natural gas gathering and treating platform includes more than 500 miles of pipeline and 1.2 billion cubic feet per day of treating capacity across systems in North Louisiana and East Texas, spanning the core areas of the Haynesville Shale formation.

Azure has nine downstream interconnects offering access to major market hubs, including Henry Hub, Houston Ship Channel/Katy, Carthage, Columbia Gulf Mainline, Perryville and Agua Dulce (via TETCO and NGPL).    

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