Kayne Anderson Energy Funds has committed up to $50 million equity into Alamo Resources II LLC, an oil and natural gas company based in Houston. At the same time, Alamo II completed an acquisition of primarily oil properties in Eddy County, N.M. from Doral Energy Corp. for $10 million. Kayne Anderson manages $2.7 billion of committed capital.
HOUSTON–(BUSINESS WIRE)–Alamo Resources II, LLC (“Alamo II”), an independent oil and natural gas company headquartered in Houston, Texas, is pleased to announce the company has received up to $50 million in equity commitments from Kayne Anderson Energy Funds (“Kayne Anderson”), management and other investors. Alamo II was founded in June 2010 by A.F. “Tony” Pelletier and Carl D. Campbell to acquire and develop oil and natural gas properties, primarily in New Mexico and Texas. Concurrent with securing equity commitments, Alamo II completed an acquisition of primarily oil properties in Eddy County, New Mexico from Doral Energy Corporation (“Doral”) for $10 million.
In 2004, Mr. Pelletier and Mr. Campbell founded Alamo Resources, LLC (“Alamo I”) to acquire and develop reserves in the Gulf of Mexico. Prior to founding Alamo I, Mr. Pelletier was Vice President and Gulf Coast Regional Manager for Cabot Oil & Gas Corporation from 2001 to 2004. During the same time period, Mr. Campbell founded Concorde Resources to pursue acquisition and exploitation opportunities in the Gulf Coast and Mid-Continent regions. Mr. Pelletier and Mr. Campbell previously worked together for 15 years at PetroCorp Incorporated, where they held positions of Executive Vice President – Chief Operating Officer and Regional Land Manager, respectively.
Sunrise Securities Corp. served as advisor to Alamo II in its acquisition of the Doral assets and equity placement with Kayne Anderson.