As one of the founding members of Brazos Midstream, Stephen Luskey has been instrumental in the company’s success from day one. Using existing relationships and building new ones have contributed to the growth of Brazos in a short period of time.
“Co-founding Brazos Midstream with three great partners in early 2015, when the industry was in one of the worst environments since the financial crisis, is certainly something I’m extremely proud of,” Luskey says. “Being able to choose who you partner with and then develop the teams that help you build your company is a matter of personal pride.”
The oil and gas downturn didn’t stop Brazos from becoming one of the largest private midstream companies in the southern Delaware Basin.
“The challenges and successes that have come with that growth are not taken lightly,” he says.
Since Brazos’ formation, Luskey and his partners have put together a team of talented individuals and what he believes is “one of the best commercial and business development teams in the business.”
Midstream path: Luskey, who holds a degree in finance, began his career at Flatrock Energy Advisors in San Antonio as a financial analyst.
Prior to joining Brazos, he spent most of his career with EnLink Midstream (formerly known as Crosstex Energy), where he held several business development and commercial positions. He most recently served as vice president of Permian, where he led the development of EnLink’s gas gathering and processing assets in the Permian Basin with capital investments in excess of $500 million.
Professional challenge: In 2018, Brazos recapitalized its Delaware Basin midstream platform for $1.75 billion, and management partnered with Morgan Stanley Infrastructure to continue growing the business.
“Transitioning Brazos from a start-up company to one of the largest, most successful private midstream operators in the premier oil and gas producing region in the country has been a rewarding challenge,” Luskey says. “Morgan Stanley put a lot of faith in our team, and we work hard every day to ensure that this next chapter in the Brazos story is successful for all of our stakeholders.”
“Everyone has a story, and oil and gas folks can be some of the biggest characters you will meet. Surround yourself with the best.”
Serving the industry: When he’s not negotiating contracts with midstream players, the University of Texas in Austin alum serves on various boards and organizations. Luskey is a member of the University of Texas Development Board and Red McCombs School-Kay Bailey Hutchinson Center for Energy Board. He’s also a member of the Texas Pipeline Association Board, Fort Worth Wildcatters and Young Professionals in Energy. In his hometown of Fort Worth, Texas, he serves as superintendent of the Fort Worth Stock Show and Rodeo and member of the Calf Scramble Committee.
Advice for young professionals: “Be patient, find a good launching point and be prepared to grind it out,” Luskey says. “The energy business isn’t always easy, but opportunity usually presents itself when times are the hardest.”
Industry outlook: “The industry is currently challenged on multiple levels, but I believe it is made up of some of the most enterprising and industrious people in the business community and will thrive in years to come.”
Valuable mentors: Family has always been Luskey’s greatest motivation. He credits his drive to his father, who encouraged him to believe that he could accomplish whatever he set his mind to, and his grandfather, an oil and gas geologist, who instilled in him a love for geology. Lastly, he credits his uncle for introducing him to the midstream side of the energy industry.
“I wouldn’t be here today without the role that all three of those men played in my life.”