About Lucid Energy
Lucid Energy is an Energy & Utilities company based in Dallas (United States) founded in 2011, and was acquired by Targa Resources in June 2022. Natural gas is gathered, processed, and transported by Lucid Energy. Lucid Energy has raised $675 million across 4 funding rounds from investors including Targa Resources, Magnetar Capital and EnCap Flatrock Midstream. Lucid Energy has completed 1 acquisition, including Agave Energy. Its focus areas include Energy, Oil & Gas Midstream, Natural Gas Processing and Operators. Its competitors include CNX Resources and MGE Energy.
Company details
Lucid Energy was founded in 2011 and is headquartered in Dallas, United States. Operations focus on the energy sector, where natural gas gathering, processing, and transportation services are managed. These activities support midstream infrastructure in the natural gas industry, handling collection from production sites, treatment for quality standards, and delivery to markets or end-users across relevant regions.
- Headquarters Dallas, United States
- Stage Acquired
- SectorsEnergy & Utilities
- Website lucid-energy.com
- Social LinkedIn Facebook
- Acquired by Targa Resources (Jun 2022)
- Total Equity Funding$675M (USD)
in 4 rounds
- Latest Funding Round$250M (USD), Private Equity Round
May 2017
- InvestorsTarga Resources
& 2 more
- Investments & Acquisitions
- Acquired byTarga Resources
(Jun 2022)
Funding Insights of Lucid Energy
Lucid Energy has successfully raised a total of $675M across 4 strategic funding rounds. The most recent funding activity was a Private Equity Round of $250 million completed in May 2017. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $675M
- Total Rounds 4
- Last Round Private Equity Round — $250M
- First Round $75M
(Feb 2012)
- Investors Count 2
All 4 funding rounds of Lucid Energy with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2017 | $250M | Private Equity Round | – | Magnetar | – |
| Feb 2016 | $350M | Private Equity Round | – | – | |
| Mar 2014 | $200M | Debt – Conventional | – | – | – |
| Feb 2012 | $75M | Private Equity Round | – | – |
3 investors in total: 3 institutional.
Investors in Lucid Energy
Lucid Energy has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include Targa Resources, Magnetar Capital and EnCap Flatrock Midstream.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Magnetar Capital is engaged in alternative asset management. | magnetar.com | Evanston, United States | ||
Venture capital investments are made in midstream management teams. | efmidstream.com | San Antonio, United States | ||
Midstream natural gas and NGL services are provided. | 2003 | targaresources.com | Houston, United States |
Investor details for Lucid Energy
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Investments & Acquisitions by Lucid Energy
Lucid Energy has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Agave Energy.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Provider of oil & gas midstream services | agaveenergy.com | Artesia, United States | 1995 | Sep 2016 | •••• |
Complete acquisition details for Lucid Energy
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Timeline of Lucid Energy
5 dated milestones of Lucid Energy across 11 years, from founding to its latest funding, stage changes and deals.
- Founded Lucid Energy is founded.
- Funding First funding round of $75.0M.
- Acquisition Acquires Agave Energy.
- Funding Latest funding round, Private Equity Round, of $250.0M.
- Exit Acquired by Targa Resources.
Competitors of Lucid Energy
Lucid Energy has 2 listed competitors in our database. They include CNX Resources and MGE Energy.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| cnx.com | 1991 | Pittsburgh, United States | 470 | Provider of natural gas exploration, production, and transmission services | ||
| mgeenergy.com | 1967 | Madison, United States | 719 | Natural gas and electricity are distributed by MGE Energy. |
Detailed competitors of Lucid Energy
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Top companies in Oil & Gas Operations
3 companies that operate in the same segment as Lucid Energy (Oil & Gas Operations) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Oilfield services and products are supplied worldwide by Schlumberger. | 1926 | United States | USD 35.69 B | 110,000 | ||
bp is recognized as a global energy company. | 1909 | United States | USD 185.5 B | 100,500 | ||
Energy production and transportation are conducted by Dominion Energy. | 1983 | United States | USD 16.73 B | 14,700 |
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Frequently Asked Questions about Lucid Energy
Lucid Energy was founded in 2011 and raised its 1st funding round 1 year after it was founded.
Lucid Energy is headquartered in Dallas, United States. It is registered at Dallas, Texas, United States.
Lucid Energy is a funded company, having raised a total of $675M across 4 funding rounds to date. The company's 1st funding round was a Private Equity Round of $75M, raised on Feb 2012.
Lucid Energy was founded in 2011 and is headquartered in Dallas, United States. Operations focus on the energy sector, where natural gas gathering, processing, and transportation services are managed. These activities support midstream infrastructure in the natural gas industry, handling collection from production sites, treatment for quality standards, and delivery to markets or end-users across relevant regions.
Lucid Energy's top competitors include MGE Energy and CNX Resources.
Lucid Energy has made 1 acquisition, including Agave Energy.
Lucid Energy has 3 investors. Key investors include Targa Resources, Magnetar Capital, and EnCap Flatrock Midstream.
Yes. Lucid Energy was acquired by Targa Resources in June 2022.