US-based Manchester Energy and private equity firm EnCap Flatrock Midstream have formed a partnership to develop a large-scale, diversified midstream business in the US.
Manchester Energy is a private entity formed by an experienced group of energy industry executives to focus on energy assets, which is backed by EnCap Flatrock. CEO Khalid Muslih was formerly executive vice-president at Buckeye Partners, while executive vice-president Forrest Wylie was formerly chairman and CEO of Buckeye. CFO William Byers and vice-president, finance Jennifer Gregory were previously at Navitas Midstream Partners.
Manchester Energy says that its new midstream platform will provide ‘safe, reliable and compliant fuels and feedstocks’ to its customers, and will also advance initiatives for the energy transition to meet customer demand.
‘We are currently experiencing significant disconnects between reliable supplies and critical end-use brought on by under-investment in the conventional energy sector, combined with the ongoing energy evolution. The Manchester team has managed energy businesses through a variety of cycles, investor sentiments and regulatory landscapes and is well positioned to transform conventional platforms to thrive over the long-term. With our team’s combined experience, we are well positioned to build a large scale, diversified energy platform to serve the changing needs of our customers and stakeholders in a responsible manner and to help address the supply-demand disconnects,’ says Manchester CEO Khalid Muslih.
EnCap Flatrock Midstream managing director Zach Kayem says that Manchester is ‘exactly the team we want to partner with as we navigate the changing energy landscape.’