Rangeland Energy, LLC Announces $200 Million Equity Commitment from EnCap Flatrock; Midstream Industry Veteran Pat McGannon

  Rangeland Energy, LLC Announces $200 Million Equity Commitment from EnCap
  Flatrock; Midstream Industry Veteran Pat McGannon Joins Rangeland Management
  Team

Business Wire

SUGAR LAND, Texas -- January 10, 2013

Rangeland Energy, LLC (“Rangeland”) announced today that the company has
secured a $200 million equity financing commitment from EnCap Flatrock
Midstream of San Antonio. Rangeland is a midstream company that meets the
requirements of crude oil refiners, marketers and producers in emerging
resource plays. Rangeland develops the infrastructure necessary to gather,
store and transport crude oil, natural gas, natural gas liquids, and other
petroleum products by rail and pipeline to refineries and market hubs across
North America.

This is the second time EnCap Flatrock has backed the Rangeland management
team. In November 2009 EnCap Flatrock made a $115 million commitment to
Rangeland from its first fund to support the company’s successful greenfield
development of the COLT system, North Dakota’s largest open access crude oil
marketing hub. COLT serves the prolific Bakken and Three Forks shale plays and
was acquired by Inergy Midstream, L.P. in December 2012 for $425 million. The
recent $200 million commitment was made from EnCap Flatrock Midstream’s Fund
II which closed in July 2012 at $1.75 billion. Jones Day served as legal
counsel to Rangeland Energy and Thompson & Knight represented EnCap Flatrock
Midstream.

CEO Perspective

"We are all excited about this new equity commitment from EnCap Flatrock, and
the continuation of our ongoing relationship with them. We didn’t look
anywhere else. EnCap Flatrock has been a great equity partner, providing the
midstream expertise and financial strength we need to continue serving our
customers and growing our business,” said Rangeland’s CEO, Chris Keene.

“The Rangeland team is a proven, experienced group capable of executing
strategic infrastructure projects. The COLT facility we developed and
constructed is well positioned to be the premier crude oil terminal in the
Bakken. We look forward to building on our success by pursing similar
opportunities in North American shale plays with an emphasis on West Texas,
the Gulf Coast, California and Canada.”

From EnCap Flatrock

"We are delighted to partner with this leadership team on the continued growth
and development of Rangeland Energy," said Bill Waldrip, EnCap Flatrock’s
founder and one of three managing partners. “We were extremely impressed with
the quality and scope of the asset base that Rangeland assembled in the Bakken
Shale in a very short period of time, and we are honored and excited to be
part of the next stage of Rangeland’s growth story.”

Pat McGannon Joins Rangeland as Vice President, Business Development

Rangeland also announced that industry veteran Pat McGannon has joined the
company as vice president for business development. Mr. McGannon has more than
30 years of experience in the oil gas industry in a broad range of positions
with a focus on developing businesses around the trading and transportation of
crude oil, condensate and natural gas liquids.

Mr. McGannon worked with BP/Amoco for 32 years, most recently as the
commercial manager for Denali, The Alaska Gas Pipeline in Anchorage. In this
role he was responsible for development of the company’s commercial strategy
and negotiations with Alaska’s major oil and gas producers to provide the
commitments necessary to build the proposed $35 billion pipeline. Prior
positions at BP/Amoco included business development manager for BP’s NGL
groups in Houston and Calgary, business development manager for BP Pipelines
North America in Houston, and crude oil trading manager for Amoco in Chicago.
Mr. McGannon earned an undergraduate degree in mechanical engineering from
University of Dayton in Ohio and holds a Master of Management degree from
Northwestern University’s Kellogg School of Management in Chicago.

"I am extremely pleased to welcome Pat to Rangeland Energy," said CEO Chris
Keene. "I’ve known Pat for 15 years. He raises the level of experience and
capability at Rangeland. Pat has a proven track record of effectively
developing midstream projects and he brings additional industry relationships
to the company.”

“I’m excited to join the Rangeland team and look forward to playing a key role
in the continued growth of the company,” said McGannon. “Rangeland’s mandate
to develop and invest in strategic midstream infrastructure and its proven
ability to execute makes this a very exciting opportunity.”

About Rangeland Energy, LLC


Headquartered in Sugar Land, Texas, Rangeland Energy, LLC was formed in 2009
to focus on developing, acquiring, owning and operating midstream
infrastructure for crude oil, natural gas, natural gas liquids and other
petroleum products. The company is primarily focused on emerging shale plays
across North America with an emphasis on West Texas, the Gulf Coast,
California and Canada. The Rangeland team represents more than 100 years of
combined midstream experience and is backed by an equity commitment from EnCap
Flatrock Midstream. For more information, please visit www.rgldenergy.com.

About EnCap Flatrock Midstream

EnCap Flatrock Midstream provides value-added private equity capital to proven
management teams focusing on midstream infrastructure opportunities across
North America. Founded in 2008 by EnCap Investments L.P. and Flatrock Energy
Advisors, the firm is based in San Antonio and led by Managing Partners
William D. Waldrip, William R. Lemmons Jr. and Dennis F. Jaggi. With more than
100 years of midstream experience, the principals at EnCap Flatrock manage a
dedicated professional staff and midstream-focused investment commitments of
nearly $3 billion from a broad group of prestigious institutional investors.
EnCap Flatrock is currently investing out of EnCap Flatrock Midstream Fund II,
a $1.75 billion fund. EnCap Flatrock’s current portfolio includes Caballo
Energy, Caiman Energy II, Cardinal Midstream, EagleClaw Midstream, Lucid
Energy Group, Nuevo Midstream, Rangeland Energy, Tradition Midstream, and US
Infrastructure. Visit www.efmidstream.com for more information.

Contact:

TEN|10 Group for Rangeland Energy, LLC
Casey Nikoloric, 303-507-0510 m
720-542-8832 direct
Casey.Nikoloric@Ten10Group.com
 
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