Lucid Energy Group, a natural gas processor in the Delaware Basin, has named Brian T. Raber as senior vice president and chief operating officer. Previously, Raber was senior vice president, engineering and project management for Summit Midstream Partners. Lucid is backed by Riverstone Holdings LLC and Goldman Sachs‘ merchant banking division.
DALLAS–(BUSINESS WIRE)–Lucid Energy Group (“Lucid”) today announced that the company has hired industry veteran Brian T. Raber as Senior Vice President and Chief Operating Officer. Lucid is the largest privately held natural gas processor in the Delaware Basin and provides a full range of midstream services to more than 50 customers in Southeast New Mexico and West Texas.
Mr. Raber brings to Lucid more than 25 years of experience in the midstream sector of the energy industry. He has held senior leadership positions at leading midstream companies as well as engineering and project management roles for major engineering, procurement and construction firms. Over the course of his career, Mr. Raber has developed a deep understanding of the nation’s major shale plays.
“We are very pleased that Brian Raber has joined our team,” said Lucid CEO Mike Latchem. “He brings vast experience overseeing major capital projects. Brian’s experience will be immediately accretive to Lucid and he will play a key role in the further development and expansion of our assets. His leadership skills and project management style will add significant value to Lucid as we execute our long-term strategic growth plans in the Delaware Basin.”
“I am humbled and excited to join the dominant private midstream player in the Delaware Basin,” said Mr. Raber. “Lucid’s financial strength, outstanding producer relationships and rapidly expanding operations mean that we are uniquely positioned for continued success, both near-term and long-term. I look forward to making a meaningful contribution by continuing to ensure the timely and cost-effective buildout of new facilities and safe, reliable operations that meet the needs of our customers.”
Before joining Lucid, Mr. Raber served as senior vice president, engineering and project management for Summit Midstream Partners, LLC (“Summit”). During his time at Summit, Mr. Raber implemented new procedures that resulted in on-time, on-budget project execution across seven active shale basins. He also played a key role in the expansion of Summit’s footprint into the northern Delaware Basin. Prior to Summit, Mr. Raber held senior management roles in operations and engineering at Century Midstream LLC, NiSource Midstream Services LLC, Hoover Energy Partners LP and Enterprise Products Partners LP. Mr. Raber’s experience spans greenfield systems design and construction, gas processing as well as sour gas treating and sequestration, and midstream operations. Mr. Raber holds a Bachelor of Science degree in chemistry from Oral Roberts University and earned a Master of Science degree in electrical engineering from Oklahoma State University.
About Lucid Energy Group
Lucid Energy Group is the largest privately held natural gas processor in the Delaware Basin, providing the full range of gas midstream services to more than 50 customers in New Mexico and West Texas. Lucid is supported by growth capital commitments from a joint venture formed by Riverstone Global Energy and Power Fund VI, L.P., an investment fund managed by Riverstone Holdings LLC (“Riverstone”), and investment funds managed by the Merchant Banking Division of The Goldman Sachs Group Inc. (“Goldman Sachs MBD”). Please visit www.lucid-energy.com for more information.
About Riverstone Holdings LLC
Riverstone Holdings LLC is an energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with approximately $39 billion of capital raised. Riverstone conducts buyout and growth capital investments in the exploration & production, midstream, oilfield services, power and renewable sectors of the energy industry. With offices in New York, London, Houston and Mexico City, Riverstone has committed over $37 billion to more than 160 investments in North America, Latin America, Europe, Africa, Asia and Australia. Visit www.riverstonellc.com for more information.
About Goldman Sachs Merchant Banking Division
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division is the primary center for the firm’s long-term principal investing activity. With nine offices across seven countries, Goldman Sachs MBD is one of the leading private capital investors in the world with equity and credit investments across corporate, real estate, and infrastructure strategies. Since 1986, the group has raised approximately $183 billion of levered capital across a number of geographies, industries and transaction types.