Lucid Energy Lines Up $75M In Startup Funding

Law360, New York (February 8, 2012, 4:22 PM EST) -- New Texas oil and gas company Lucid Energy Group LLC has launched after securing a $75 million commitment from private equity firm EnCap Flatrock Midstream and will be led by former executives from energy company Tenaska Inc., the companies announced Wednesday.

The startup will provide a range of midstream services to larger producers, including crude oil and natural gas gathering, gas compression, treatment, processing and transmission. Lucid Energy says it is developing greenfield gathering and processing facilities and targeting the acquisition of growth-oriented assets.

"We are...
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