The announcement follows Lucid II’s recent $1.6 billion recapitalization through strategic investments from Riverstone Holdings LLC and the Merchant Banking Division of The Goldman Sachs Group, Inc., which positions Lucid II for continued growth in the Delaware Basin. Lucid II is expanding its leadership and operating teams to meet these growth opportunities by continuing to deliver best-in-class service to its high-quality and growing customer base.
“We are fortunate to have Joe join our team,” said Lucid II CEO Mike Latchem. “Joe brings a wide range of experience that is of immediate value to Lucid II, and he will play a central role in our long-term strategy. His public company experience and M&A background will be key to Lucid II’s continued growth in the Delaware Basin and the midstream marketplace.”
“I am honored to join the Lucid II team and look forward to helping build and expand the business,” Mr. Davis said. “Lucid II’s assets sit on top of some of the most prolific production areas in the Delaware Basin, the Lucid II team serves some of the best oil and gas producers in the business, and the company is supported by outstanding financial partners.”
Before he joined Lucid II, Mr. Davis was general counsel and an adviser to the Kayne Anderson Special Acquisition Corporation. Prior to Kayne Anderson, Mr. Davis served for 10 years as general counsel for the EnLink Midstream companies and their predecessors. He has served on various boards, including Matador Resources Company and Howard Energy Partners, LLC, and was in private practice as a partner with Hunton & Williams LLP and its predecessor, focusing heavily on energy projects and energy mergers and acquisitions.
About Lucid Energy Group II
Lucid Energy Group II serves the industry’s leading oil and gas producers as they develop North America’s premier basin. Lucid is the largest natural gas processor in the northern Delaware Basin and the largest privately held natural gas processor in the greater Permian Basin. 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 $38 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 150 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 invested approximately $180 billion of levered capital across a number of geographies, industries and transaction types.