EnCap Flatrock-backed Cardinal Midstream Partners completed the acquisition of the natural gas gathering and processing business from Medallion Midstream Services.

EnCap Flatrock-backed Cardinal Midstream Partners, an independent midstream energy company, completed the acquisition of the natural gas gathering and processing business from Medallion Midstream Services, a provider of midstream services. Financial terms were not disclosed. “We are excited to have completed this transaction as it positions us for significant growth and future bolt-on opportunities in the heart of one of the most prolific basins in the United States. We believe that clean burning natural gas will continue to play an important role in the energy mix, driving global demand, upstream production, and accompanying midstream infrastructure. These assets are an ideal cornerstone for our business, and we look forward to meaningfully growing our footprint over time,” Doug Dormer, Cardinal CEO.