Kayne Anderson Capital Advisors has invested $205 million in Panther Energy Company II through its Kayne Anderson Energy Fund VI. Panther II, a private exploration and production company, also has the option to exercise up to $250 million in incremental commitments from co-investors, including total equity commitments to the company to as much as $455 million.
Panther Energy Company II, LLC (“Panther II” or the “Company”) is pleased to announce that it has received a $205 million initial equity commitment from Kayne Anderson Energy Fund VI (“Kayne Anderson”) and members of the Panther II management team. In addition to this initial commitment, Panther II has the option to exercise up to $250 million in incremental commitments from co-investors, increasing the total equity commitments to the Company to as much as $455 million.
“We are excited to recommit to an accomplished management team with an impressive and established track record of sourcing, evaluating, and developing E&P assets”
Panther II is a private exploration and production company formed to pursue development drilling opportunities in oil-weighted basins across North America. The Panther II management team is led by Berry Mullennix, President and Chief Executive Officer, and Roy Grossman, Senior Vice President and Chief Operating Officer. Other key members include Jim Stone, EVP of Business Development and Land; Jeff Nevins, CFO; Don Burdick, VP of Geology; Bill Martin, VP of Reservoir Engineering; Howard Blankenship, VP of Field Operations and Jerry Mullennix, IT Director. From 2005 to 2013, Berry Mullennix and Roy Grossman led Panther Energy Company, LLC, which pursued a similar business strategy and was successfully sold earlier this year.
Berry Mullennix commented, “Panther II will build on the knowledge and skill gained through Panther I and is prepared to look at any and all acquisitions or joint ventures.”
“We are excited to recommit to an accomplished management team with an impressive and established track record of sourcing, evaluating, and developing E&P assets,” said Chuck Yates, Partner at Kayne Anderson Energy Funds. “Panther II’s management team has a proven ability to assemble and develop a large asset base while consistently improving well performance and lowering costs. We look forward to the company’s future growth.”
ABOUT PANTHER II
Headquartered in Tulsa, Oklahoma, Panther II will pursue opportunities to lease acreage positions with significant resource potential, as well as acquisitions of large property sets with scalable exploitation and development upside. The Company will consider opportunities throughout select North American basins with an initial focus on the Mid-Continent region. For more information, please visit www.pantherenergy.us or call Jim Stone at 918-551-7106.
ABOUT KAYNE ANDERSON
Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading independent alternative investment management firm focused on niche investing in upstream oil and gas companies, energy infrastructure, specialized real estate, middle market credit, growth private equity and distressed municipal opportunities. Kayne’s investment philosophy is to pursue niches, with an emphasis on cash flow, where its knowledge and sourcing advantages enable it to deliver above average, risk-adjusted investment returns. Kayne manages over $24.5 billion in assets (as of 9/30/2013) for institutional investors, family offices, high net worth and retail clients and employs over 225 professionals in eight offices across the United States.
Through Kayne Anderson Energy Funds, the firm manages over $4.0 billion of committed capital dedicated to private equity investments in primarily upstream oil and gas companies. Currently, the firm has over 40 active portfolio companies focused on the acquisition and development of upstream oil and gas assets across North America.
The firm is headquartered in Los Angeles with offices in Houston, New York City, Chicago, Denver, Dallas, Atlanta and Boca Raton. For more information, please visit www.kaynecapital.com.