Phoenix Natural gets $250 mln equity from Kayne Anderson, Phoenix managers

Phoenix Natural Resources, a new Houston oil-and-gas firm, said it received a $250 million equity commitment from Kayne Anderson Energy Funds and Phoenix managers. The company will use the funds to acquire and develop oil and natural gas assets in North America, Phoenix said in a statement. Kayne Anderson Capital Advisors L.P., the Los Angeles alternative-investment manager, invests in oil and gas upstream companies, energy infrastructure, specialized real estate, middle-market credit and growth private equity.

Press Release

Phoenix Natural Resources, LLC Receives $250 Million Equity Commitment from Kayne Anderson

April 11, 2016

HOUSTON–(BUSINESS WIRE)–Phoenix Natural Resources, LLC (“Phoenix” or the “Company”) today announced a $250 million equity commitment from Kayne Anderson Energy Funds (“Kayne Anderson”) and members of the management team. Phoenix will target the acquisition and development of oil and natural gas assets in North America.

Phoenix is a newly formed independent oil and gas company headquartered in Houston, Texas. The Phoenix management team is led by Russell Parker, CEO; Jim Mooney, CFO; Ray Ambrose, SVP of Engineering; Chad England, SVP of Operations; and Mark Hargis, SVP of Geology. Management has extensive technical and operational experience across several North American basins. Prior to forming Phoenix, members of management most recently served in senior leadership positions in private companies, including Chief Oil & Gas and Hilcorp.

Phoenix’s CEO, Russell Parker, commented, “We are very excited to be partnered with Kayne Anderson. Kayne has a unique and creative approach that fits well with the Phoenix team. I am equally as pleased and excited to be teamed up with the high caliber and incredible drive represented by the individuals that make up the Phoenix management team.”

“We are thrilled to begin a partnership with a proven management team and are excited for Phoenix to capitalize on the current market environment by deploying their technical and operational expertise,” said David Habachy, Managing Director at Kayne Anderson.