Kayne Anderson Energy commits $100 mln to Triumph Energy

The former team of Plymouth Exploration LLC has formed Triumph Energy Partners LLC with a $100 million equity commitment from Kayne Anderson Energy Funds and members of management. Tulsa, Oklahoma-based Triumph, a private exploration and production company, will acquire and develop oil and natural gas assets in the Mid-Continent region.


HOUSTON–(BUSINESS WIRE)–Following the successful divestment of Mid-Continent assets in Grant and Garfield Counties, Oklahoma, the former team of Plymouth Exploration, LLC (“Plymouth”) is pleased to announce that it has formed Triumph Energy Partners, LLC (“Triumph” or the “Company”) with a $100 million equity commitment from Kayne Anderson Energy Funds (“Kayne Anderson”) and members of the management team.

Triumph is a private exploration and production company formed to pursue the acquisition and development of oil and natural gas assets with a focus towards historically productive reservoirs with identifiable upside through modern drilling and completion techniques. The Company will focus on opportunities in the Mid-Continent region. The Triumph management team is led by Jack Kueser, Joel Blake, Kyle Hill and Kerby Hunt who were previously the core senior management team of Plymouth. Plymouth acquired approximately 30,000 net acres in Garfield and Grant Counties, Oklahoma and subsequently, ran a four-rig continuous program drilling over 60 horizontal Mississippi Lime and Woodford Shale wells. This development program de-risked several hundred future drilling locations and on June 30, 2014, Plymouth sold its Mississippi Lime and Woodford Shale assets to SK Innovation for $300 million.
Triumph’s CEO, Jack Kueser, commented, “Triumph Energy Partners is extremely pleased to continue our relationship with Kayne Anderson, which has been an integral factor in our success. We are highly optimistic about the forthcoming opportunities in the Mid-Continent region. Triumph’s re-entry point in the market is not only well positioned for acquisitions, but for joint development of resource plays that require capital deployment and a seasoned management group to deliver low cost results.”
“We look forward to furthering our partnership with such an accomplished management team with an outstanding track record of acquiring, operating and developing oil and gas assets, and the continued success of Triumph’s next venture,” said Mike Heinz, Managing Partner at Kayne Anderson.
About Triumph
Headquartered in Tulsa, Oklahoma, Triumph will pursue oil and gas assets 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 contact Jack Kueser at 918-986-8270.
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 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.
Through Kayne Anderson Energy Funds, the firm has raised over $4.3 billion of committed capital dedicated to energy private equity investments in primarily upstream and midstream oil and gas companies. Currently, the firm has over 30 active portfolio companies focused on upstream and midstream 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.