TULSA, Oklahoma—Getka Energy LLC, a crude oil logistics provider, announced March 27 that it has secured an initial equity commitment of $250 million from EnCap Flatrock Midstream and the Getka management team. Getka was formed earlier this year to provide storage, blending and terminal solutions, as well as pipeline transportation and market optionality for producers across North America in addition to domestic and international marketers.
The company is focused on developing unique solutions that leverage technology, market relationships and asset expertise to offer the reach and optionality that customers value. Getka expects to focus its early efforts on multiple basins and market hubs throughout the Midcontinent, including the market center at Cushing, Okla.
Getka is led by three founding partners: CEO Dariusz Cichocki, Chief Commercial Officer Clete Straub and COO Matthew Turner. Getka’s founding partners have more than 50 years of combined energy industry experience and worked together at Enbridge Energy Partners LP, where they focused on the commercial development of storage and pipeline systems.
“We believe there is a strong demand for a team that has a deep understanding of the crude oil supply chain, knows where the challenges and opportunities are and has the ability to execute reliably and rapidly,” Cichocki said. “We will be looking to put our expertise to work to create value for customers by taking an innovative, commercial approach to the market that pioneers new ways to maximize assets and the way crude moves from the field to market centers.”
“When we decided to form Getka Energy, EnCap Flatrock Midstream was our preferred partner and the only equity provider we met with,” Cichocki added. “The firm is the undeniable leader in the space, and we are very pleased that the team at EnCap Flatrock shares our vision. We look forward to applying our combined expertise to grow a very successful business.”
“EnCap Flatrock and the Getka team share a common approach to value creation,” said EnCap Flatrock Managing Partner David J. Kurtz, a member of the Getka board of directors. “Dariusz, Clete and Matt have outstanding reputations and relationships across the crude value chain. They bring everything we look for in a management team, including a proven track record and a very well-defined strategic plan.”
Getka Energy was advised by managing partner Zac Lindsey of LINDSEYfirm in Tulsa, Okla. EnCap Flatrock was advised by Thompson & Knight LLP with partner Sarah McLean leading the firm’s legal team.