In an almost effortless pirouette, Energy Corp. of America’s (ECA) management and staff are now Greylock Energy LLC employees following a deal to buy ECA’s massive Marcellus upstream and midstream assets late last month.

Greylock, backed by ArcLight Capital Partners, closed on a deal for ECA on Nov. 28. The price was not disclosed. Kyle Mork, the former CEO of ECA who now leads Greylock, said that ArcLight is backing the company with a $400 million equity commitment and that the transaction price “is embedded in that number.”

“What I can tell you is within the $400 million, even including the transaction price, we really feel like we are really positioned to grow both the upstream and midstream businesses,” Mork said in an interview with Hart Energy.

Already have an account? Log In

Thanks for reading Hart Energy.

Subscribe now to get unmatched coverage of the oil and gas industry’s entire landscape.

Get Access