Private Equity

Kayne Anderson MLP/Midstream Investment Company Announces Completion of MRP Shares Offering and Redemption of its Series F and Series K MRP Shares

Kayne Anderson MLP/Midstream Investment Company Announces Completion of MRP Shares Offering and Redemption of its Series F and Series K MRP Shares

Kayne Anderson MLP/Midstream Investment Company Announces Completion of MRP Shares Offering and Redemption of its Series F and Series K MRP Shares

February 12, 2020 - 9:15 am Finance, Press Releases, Private Equity
ORIX Capital Partners Acquires Specialty Welding and Turnarounds, LLC

ORIX Capital Partners Acquires Specialty Welding and Turnarounds, LLC

ORIX Capital Partners Acquires Specialty Welding and Turnarounds, LLC

Enhanced Capital closes financing for 10.25 MWdc solar energy portfolio with Green Street Power Partners

Enhanced Capital closes financing for 10.25 MWdc solar energy portfolio with Green Street Power Partners

Enhanced Capital closes financing for 10.25 MWdc solar energy portfolio with Green Street Power Partners

January 8, 2020 - 8:00 am Press Releases, Private Equity, Renewable Energy
Northwoods Energy LLC Announces Strong Production Results from Multiple Stacked Targets in the Powder River Basin in Wyoming

Northwoods Energy LLC Announces Strong Production Results from Multiple Stacked Targets in the Powder River Basin in Wyoming

Northwoods Energy LLC Announces Strong Production Results from Multiple Stacked Targets in the Powder River Basin in Wyoming

January 7, 2020 - 3:57 pm Press Releases, Private Equity
Edgewater Midstream Announces Initial Equity Commitment from EnCap Flatrock Midstream

Edgewater Midstream Announces Initial Equity Commitment from EnCap Flatrock Midstream

Edgewater Midstream Announces Initial Equity Commitment from EnCap Flatrock Midstream

January 7, 2020 - 9:15 am Midstream, Press Releases, Private Equity
Ara Partners Promotes Johanna Schmidtke to Managing Director

Ara Partners Promotes Johanna Schmidtke to Managing Director

Ara Partners Promotes Johanna Schmidtke to Managing Director

January 6, 2020 - 6:00 am People, Press Releases, Private Equity
U.S. Oil & Gas M&A poised for recovery after challenging 2019

U.S. Oil & Gas M&A poised for recovery after challenging 2019

Enverus Decade closes with more than half a trillion dollars spent on shale assets AUSTIN Enverus, the leading oil & gas SaaS and data analytics company, has released its summary of 2019 deal activity and its outlook for 2020. Enverus tracked $96 billion of U.S. oil & gas M&A in 2019, including $11 billion in Q4. However, the annual total was substantially skewed by Occidental’s $57 billion acquisition of Anadarko, which was also the largest deal of the decade and the fourth largest oil & gas deal ever. Backing out the Occidental/Anadarko deal, 2019 saw $39 billion in deals or just one-half of the average $78 billion for annual U.S. oil & gas M&A during the last 10 years, which also saw the rise of U.S. unconventional assets. M&A played a key role along the way, with $567 billion spent on shale assets or 73% of the total during that time. E&Ps poured even more into funding drilling, including major ramp ups[Read More…]

Contango Announces Private Equity Capital Raise

Contango Announces Private Equity Capital Raise

Contango Announces Private Equity Capital Raise

December 20, 2019 - 9:00 am Finance, Press Releases, Private Equity
Smart Wires Announces $75 Million Growth Equity Financing

Smart Wires Announces $75 Million Growth Equity Financing

Smart Wires Announces $75 Million Growth Equity Financing

WaterBridge Announces Closing of $345 Million of Additional Equity Capital to Fund Strategic Acquisitions

WaterBridge Announces Closing of $345 Million of Additional Equity Capital to Fund Strategic Acquisitions

WaterBridge Announces Closing of $345 Million of Additional Equity Capital to Fund Strategic Acquisitions

December 18, 2019 - 7:00 am Finance, Oilfield Services, Press Releases, Private Equity
Pachira Oil & Gas II closes on acquisition

Pachira Oil & Gas II closes on acquisition

Fulcrum Energy Capital Funds announces the closing of an acquisition by their newly formed portfolio company, Pachira Oil & Gas II. The acquisition consists primarily of operated oil and gas assets including over 60 wells and 9,000 net acres of leasehold, which was previously owned by O’BENCO IV, LP. The assets were purchased at an attractive valuation through a §363 sale as part of O’BENCO’s Chapter 11 bankruptcy proceeding in Bankruptcy Court for the Eastern District of Texas. Fulcrum anticipates the acquisition will generate immediate double-digit, unleveraged cash-on-cash returns through existing asset level free cash flow and expects to realize substantial upside available through capital-light operations optimization including cost reduction initiatives. This transaction, combined with the distressed valuation at which the assets were purchased, make the O’BENCO assets an ideal acquisition target that is consistent with Fulcrum’s value-oriented investment strategy. Fulcrum’s President Brad Morse said, “Our firm has a successful[Read More…]

Tailwater Capital Commits $500 Million to Goodnight Midstream

Tailwater Capital Commits $500 Million to Goodnight Midstream

Continued Partnership Provides Growth Capital to Scale Platform and Meet Increasing Demand for Produced Water Infrastructure Goodnight Midstream (“Goodnight” or the “Company”), a leading produced water midstream infrastructure company, today announces the closing of a significant capital investment and an incremental commitment from Tailwater Capital LLC (“Tailwater”), an energy-focused private equity firm based in Dallas, which has been an investor in the Company since 2016. As part of this transaction, Tailwater has committed over $500 million of growth capital to support Goodnight’s strategic objectives and to allow the Company to continue to expand its best-in-class service offering for its blue-chip customer base. Goodnight is a pioneer in the produced water midstream sector, which is expected to require multi-billion dollar investments to accommodate projected volume growth in Goodnight’s basins of operation. Since receiving its initial investment from Tailwater in 2016, Goodnight has expanded its Bakken operations and entered the Delaware Basin, Midland Basin and Eagle Ford[Read More…]

October 8, 2019 - 7:48 am Closing Bell Story, Midstream, Private Equity
Tailwater Capital Announces Commitment of $150 Million to Triten Energy Partners

Tailwater Capital Announces Commitment of $150 Million to Triten Energy Partners

Commitment Furthers Tailwater’s Downstream-Adjacent Investment Strategy Tailwater Capital LLC (“Tailwater”), an energy-focused private equity firm based in Dallas, today announced an equity commitment of $150 million to Triten Energy Partners (“TEP”, “Triten” or the “Company”), a newly established Company based in Houston pursuing downstream infrastructure projects. TEP will develop and acquire downstream facilities related to producing valuable fuels and chemicals for the refined products and petrochemical sectors, with a focus on renewable and lower-emission end products. Led by Managing Partner Jason Arnoldy, the Company has established a unique team and platform, bringing together experienced downstream executives with deep expertise in the sector. This investment in TEP provides Tailwater with a compelling opportunity to support the growing demand for downstream infrastructure projects that can help Triten’s customers realize their stated goals of reducing carbon emissions while remaining committed to the supply of critical fuels and chemicals to the global economy. By[Read More…]

Casillas Petroleum Resource Partners and Energy Water Services Form New Midstream Company

Casillas Petroleum Resource Partners and Energy Water Services Form New Midstream Company

By Tyler Losier, Energy Reporter, Oil & Gas 360 Casillas Petroleum Resource Partners and Energy Water Services team up to form Woody Creek Midstream Casillas Petroleum Resource Partners LLC, a portfolio company of Kayne Anderson Energy Funds, and Energy Water Services LLC, a water infrastructure company owned by Halmos Capital Partners, have entered into a partnership in order to jointly form Woody Creek Midstream, which will focus on providing water management services to producers in the SCOOP. Consequently, Woody Creek has begun construction on more than 25 miles of wastewater gathering pipeline in Garvin and McClain counties, Oklahoma. Once the infrastructure is completed in the fourth quarter of 2019, the system will con… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

Kayne Anderson Makes $100 Million Upstream Investment

Kayne Anderson Makes $100 Million Upstream Investment

By Tyler Losier, Energy Reporter, Oil & Gas 360 Kayne Anderson Energy Fund VIII invests $100 million in newly-formed Indianola Energy Kayne Anderson Capital Advisors LP, through its Kayne Anderson Energy Fund VIII LP, has made a $100 million equity commitment in order to form Indianola Energy LLC, an upstream entity that will purse the acquisition and development of highly-proven resource plays across North America. The newly-created company will be led by energy sector veterans Chapman Amend and Todd Burgamy. “We are excited to partner with Kayne Anderson to deploy our strategy, which is centered on operations and execution capabilities,” Amend said. “As the market has shifted to placing a preference on living within cash… Login or click here to subscribe

Source: EPIC Midstream

EPIC Pipeline Makes First Crude Delivery to Corpus Christi

By Tyler Losier, Energy Reporter, Oil & Gas 360 EPIC Y-Grade pipeline begins delivering crude to various terminals in Corpus Christi and Ingleside, Texas EPIC Midstream LLC, through EPIC Crude Holdings LP, has begun interim crude service on its 24” EPIC Y-Grade pipeline, a system that transports oil from Crane, Texas to various terminals and refiners in Corpus Christi and Ingleside, Texas. During this interim period, EPIC has the ability to deliver up to 400,000 BOPD to customers in the region. The company will reserve 10% of the pipeline’s capacity for walk-up shippers. A map of what EPIC’s pipeline projects will look like upon completion (source: EPIC Midstream) “Providing interim service adds much-needed takeaway cap… Login or click here to subscribe

Source: Elevate Midstream Partners

Tailwater-Backed Elevate Midstream Enters into Eight Year Agreement with Sabine Oil and Gas

By Tyler Losier, Energy Reporter, Oil & Gas 360 Elevate Midstream Partners enters into eight year gathering and treating agreement with Sabine Oil and Gas Elevate Midstream Partners LLC, a private company based out of Houston, has entered into an eight-year gas gathering and treating agreement with Sabine Oil and Gas Corporation, an independent E&P operating exclusively in Texas. The transaction is being completed in partnership with Tailwater Capital, an energy-focused private equity firm based in Dallas, and Elevate’s financial sponsor. To carry out this new agreement, Elevate will build approximately 19 miles of 16-inch gas gathering pipelines, in addition to associated laterals. The project will include amine, dehy… Login or click here to subscribe

Source: TOPS/LinkedIn

Black Bay Energy Capital Backs Permian-Based Oilfield Services Company

By Tyler Losier, Energy Reporter, Oil & Gas 360 Black Bay Energy Capital forms partnership with Total Operations and Production Services Black Bay Energy Capital, a private equity firm focused primarily on the oilfield services and equipment sector, has formed a partnership with, and made an investment in, Total Operations and Production Services (TOPS). TOPS, which operates in the Permian Basin, is an oilfield services company that provides compression products and services, specializing in gas lift applications. The company is headquartered in Midland, Texas, and is led by Founder and President L.D. Green, as well as Vice President Brian Green. A TOPS electric gas lift unit (source: TOPS Inc./LinkedIn) “TOPS is manage… Login or click here to subscribe

Source: Oryx Midstream Services

Oryx Midstream Lands $550 Million from Qatar Investment Authority

By Tyler Losier, Energy Reporter, Oil & Gas 360 Qatar Investment Authority acquires significant stake in Oryx Midstream Services from an affiliate of Stonepeak Infrastructure Partners Qatar Investment Authority (QIA), the country’s sovereign wealth fund, will be acquiring a significant interest in Permian crude operator Oryx Midstream Services from an affiliate of Stonepeak Infrastructure Partners, in addition to chipping in a total investment of approximately $550 to help with Oryx’s development. The partnership between the two companies comes as a part of QIA’s ongoing initiative to increase its investments in the U.S. to $45 billion in the coming years. The Oryx system, which transports crude to market hubs on the Gulf … Login or click here to subscribe

Source: Abu Dhabi National Oil Company

Singapore’s Sovereign Wealth Fund Joins KKR and BlackRock in Abu Dhabi Pipeline Investment

By Tyler Losier, Energy Reporter, Oil & Gas 360 Combined investment in Abu Dhabi National Oil Company’s pipeline project reaches almost $5 billion Source: Abu Dhabi National Oil Company Singapore’s sovereign wealth fund, GIC, has entered into an agreement with the Abu Dhabi National Oil Company (ADNOC) to contribute $600 million towards crude pipeline infrastructure, joining other prominent investors such as BlackRock (stock ticker: BLK), KKR, and the Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF). The deal is expected to close before the end of the year, subject to customary closing conditions and regulatory approval. In total, the collection of companies has committed $4.9 billion in capital to date towards … Login or click here to subscribe

Source: Lime Rock Resources

Buyer Revealed in Range’s $634 Million Appalachian Asset Sale

By Tyler Losier, Energy Reporter, Oil & Gas 360 Lime Rock Resources purchases 350,000 net surface acres of overriding royalty interests from Range Resources Corporation Lime Rock Resources, the E&P arm of private equity firm Lime Rock Partners, has closed on the acquisition of a non-operated overriding royalty interest (ORRI) in 350,000 net surface acres of the Marcellus shale, representing the company’s first procurement in the Appalachian basin. The ORRI is being sold by Range Resources (stock ticker: RRC) as part of the company’s divestiture of $634 million worth of Appalachian assets announced last week. Up until this point, the identity of the buyers involved in these transactions had not been disclosed. Source:… Login or click here to subscribe

E&P Forms $500 Million JV With PE Firm

E&P Forms $500 Million JV With PE Firm

By Tyler Losier, Energy Reporter, Oil & Gas 360 Colony Capital agrees to invest up to $500 million in California Resources Corporation California Resources Corporation (stock ticker: CRC) has formed a strategic joint venture with Colony HB2 Energy, the energy investment management arm of private equity firm Colony Capital (stock ticker: CLNY), in which Colony will fund the development of California Resources’ Elk Hills field, located in the San Joaquin Basin. Initially, Colony has committed to provide $320 million in funding, however the total investment may be increased to $500 million at a later date. This preliminary investment, which will occur over the course of three years, will be spent on the development of 275 wells…. Login or click here to subscribe

Source: Encana

New WildFire Energy Gets More Than $1B in Private Equity Backing 

 From Houston Chronicle A cofounder of WildHorse Resource Development has formed the new WildFire Energy in Houston with more than $1 billion in backing from two major private equity firms. Two of the top private equity firms, New York-based Warburg Pincus and Los Angeles-based Kayne Anderson Capital, are investing in WildFire and its founder and chief executive Anthony Bahr.  Chesapeake Energy closed in February on its $3 billion acquisition of Houston-based WildHorse, which focused on the northern portions of Texas’ Eagle Ford shale.  The goal of the new WildFire is to acquire shale acreage that is already producing oil and gas, and then optimize and expand those existing operations.  “Our business strategy is designed to rapidly achieve scale by capitalizing on current market dynamics and acquiring assets generating material cash flow today,” Bahr said.      WildHorse was founded by Bahr and Jay Graham, but the two have now gone their separate ways.  In May, Graham started the new[Read More…]

July 19, 2019 - 6:00 am Closing Bell Story, Energy News, Popular 2, Private Equity
Northern Delaware Basin Operations 

From Concho.com

Kimmeridge Energy Joins Forces with Desert Royalty

By Tyler Losier, Energy Reporter, Oil & Gas 360 Newly-formed Desert Peak Minerals to be largest pure-play mineral royalty company in Delaware Basin Kimmeridge Energy Management Company, a private equity firm focused on acquiring unconventional oil and gas assets, has entered into a definitive agreement with Desert Royalty Company to combine the two companies’ assets to form Desert Peak Minerals. The newly-formed combined entity will be the largest pure-play mineral and royalty company in the Delaware Basin, with a total size of 70,000 net acres on a one-eighth royalty-adjusted basis, spanning across eight different counties in west Texas and southeast New Mexico. Once the partnership begins operations, net production is ex… Login or click here to subscribe

Saltstone Capital Management Presses for Change at Abraxas Petroleum

Saltstone Capital Management Presses for Change at Abraxas Petroleum

Saltstone Capital Management Presses for Immediate Change at Abraxas Petroleum Corporation

Source: Mach Resources

Private Equity Firm Forms Second Partnership With E&P

By Tyler Losier, Energy Reporter, Oil & Gas 360 Mach Resources and Bayou City Energy form BCE-Mach II LLC, signs two PSAs Mach Resources, an independent E&P founded in January of 2017, and upstream-focused private equity firm Bayou City Energy, have formed BCE-Mach II LLC, representing the second partnership between the two companies. Their first collaboration, BCE-Mach LLC, continues to own, operate and acquire properties in the Mississippi Lime. Source: Mach Resources In addition to forming BCE-Mach II, the two companies announced that they have signed a purchase and sale agreement (PSA) with an unnamed seller to acquire producing properties in Beckham, Custer, Dewey, Roger Mills and Washita counties, Oklahoma; an… Login or click here to subscribe

Source: Intervale Capital

New Principal at Intervale Capital

By Tyler Losier, Energy Reporter, Oil & Gas 360 Patrick Conroy promoted to principal Intervale Capital, a private equity firm dealing mainly in the energy industry and the infrastructure products and services sector, has promoted Patrick Conroy to principal, effective immediately. Conroy first joined Intervale back in 2015, and since then, he has been responsible for managing numerous aspects of the company’s energy products and services portfolio. Currently, he is serving as the director of Enercorp Sand Solutions, Pro Oil and Gas Services, and Certus Energy Solutions. Source: Intervale Capital Before his time at Intervale, Conroy had previously worked in the global natural resources investment banking group at Goldman… Login or click here to subscribe

NGL Energy Partners Closes with Mesquite, Announces Multiple Investments

NGL Energy Partners Closes with Mesquite, Announces Multiple Investments

NGL Energy Partners LP Closes Combination with Mesquite and Announces Investment from EIG and FS Energy and Power Fund

E&P Merger in the STACK

E&P Merger in the STACK

By Tyler Losier, Energy Reporter, Oil & Gas 360 Chisholm Oil and Gas to combine with Gastar Exploration Chisholm Oil and Gas LCC, backed by Apollo Global Management (stock ticker: APO), has entered into a definitive merger agreement with Gastar Exploration LLC, owned by private equity firm Ares Management Corporation (stock ticker: ARES).   Source: Gastar The combined company will retain the name Chisholm Oil and Gas and will occupy a position of approximately 165,000 net acres, predominantly in Kingfisher county, Oklahoma. Chisholm’s average production rate after the merge is expected to reach approximately 20,000 BOEPD. Chisholm currently operates three rigs and has a designated frac crew, which it expects to … Login or click here to subscribe

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New $165 Million Joint Venture in the Permian Basin

Development Capital Resources Announces $165 Million Development Joint Venture in the Permian Basin

June 19, 2019 - 6:45 am Closing Bell Story, Press Releases, Private Equity