Kayne Anderson has committed $300 million to Oak Ridge Natural Resources, an oil and gas company located in Tulsa, Oklahoma. Oak Ridge management also participated in the funding. Kayne Anderson invested through its Kayne Private Energy Income Fund.
Oak Ridge Natural Resources, LLC (“Oak Ridge” or the “Company”), an independent oil and natural gas company headquartered in Tulsa, Oklahoma, is pleased to announce that the Company has received a $300 million equity commitment from the Kayne Private Energy Income Fund, L.P. (“Kayne Anderson” or the “Fund”) and members of the management team.
Oak Ridge is a private exploration and production company formed to pursue the acquisition and development of large, long-life producing oil and gas assets in North America, with a specific focus on the Ark-La-Tex and Mid-Continent regions. Chris Jacobsen will lead Oak Ridge as President and CEO and is joined by Brian Wheeler as Chief Technical Officer and Robert Grisaffe as Chief Financial Officer. Prior to forming Oak Ridge, the team formerly ran Premier Natural Resources, an independent oil and gas company with producing assets in the Barnett and Ark-La-Tex regions. Before co-founding Premier, Chris served as Vice President of U.S. Operations at Vintage Petroleum, a publicly-traded oil and gas company that was acquired by Occidental Petroleum for $4.1 billion in 2006.
Jacobsen commented, “I am once again excited to be working with this talented group of individuals as we work to build another successful independent oil and gas company. Through our roots at Vintage and Premier, we understand how important the right financial partner is and we are confident that Kayne Anderson has the combination of financial and technical expertise to add significant value to our enterprise.”
“We have known Chris and his team personally for many years and are excited to partner with such a high-caliber group with an impressive operational track record and entrepreneurial history,” said David Iverson, Managing Director at Kayne Anderson.
ABOUT OAK RIDGE NATURAL RESOURCES
Founded in 2015, Oak Ridge Natural Resources is a privately held oil and natural gas exploration and production company based in Tulsa, Oklahoma. Oak Ridge is focused on the acquisition and development of large, long-life producing oil and gas assets in North America, with a specific focus on the Ark-La-Tex and Mid-Continent regions.
ABOUT KAYNE ANDERSON CAPITAL ADVISORS
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 approximately $28.5 billion in assets (as of 5/31/2015) for institutional investors, family offices, high net worth and retail clients and employs nearly 290 professionals in eight offices across the United States.
The Kayne Private Energy Income Fund is part of Kayne’s successful energy private equity practice that has raised over $4.5 billion since 1998. The Fund was formed in mid-2014 to take advantage of the market opportunity to acquire and develop large, long-life producing oil and gas (initially natural gas) assets in North America. The Fund is seeking to invest $1.5 billion of equity capital in this strategy.
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.