Valorem Energy, LLC Receives $300 Million Equity Commitment from Kayne Private Energy Income Fund
Valorem Energy, LLC (“Valorem” or the “Company”), an independent oil and
natural gas company headquartered in Oklahoma City, Oklahoma, is pleased
to announce that the Company has received an initial $300 million equity
commitment from the Kayne Private Energy Income Fund, L.P. (the “Fund”)
and members of the management team.
Valorem is a private exploration and production company formed to deploy
over $1 billion of capital to acquire and operate large, producing
onshore U.S. oil and gas assets, with an emphasis on the Rockies and
Mid-Continent. Valorem is led by CEO Justin Cope and COO Heath Mireles,
former executives with Continental Resources. Justin most recently led
Continental’s Mid-Continent operations as Vice President of Southern
Production and previously led the business development function as a
Vice President. Justin also worked in investment banking at Goldman
Sachs and served as a Captain in the U.S. Army prior to joining
Continental. Heath previously served as Vice President of Resource
Development at Continental before co-founding Valorem. Prior to joining
Continental, Heath began his career at BP where he served in various
technical and operational roles throughout North America.
“We are very proud to partner with Kayne Anderson,” said Cope. “The
Kayne Private Energy Income team is the ideal financial partner for our
talented operational and technical team, and we value their financial
and technical expertise as we execute our data and analytics driven
strategy.”
Danny Weingeist, Managing Partner at Kayne, said, “Justin and Heath’s
experience in operational and business development leadership roles will
serve them very well in our effort to acquire and develop sizeable
producing assets. We are very excited to be partnering with the Valorem
team.”
ABOUT VALOREM ENERGY
Founded in 2017, Valorem is a privately held oil and natural gas
exploration and production company based in Oklahoma City, OK. Valorem
is focused on the acquisition and development of large producing oil and
gas assets primarily in the Rockies and Mid-Continent regions. For more
information, please visit www.valorem-energy.com.
ABOUT KAYNE ANDERSON CAPITAL ADVISORS
Kayne Anderson Capital Advisors, L.P. (“Kayne Anderson”), founded in
1984, is a leading alternative investment management firm focused on
niche investing in upstream oil and gas companies, energy
infrastructure, specialized real estate, middle market credit and growth
private equity. Kayne manages approximately $26 billion in assets and
employs 300 professionals in nine offices across the U.S.
The Kayne Private Energy Income Fund is part of Kayne Anderson’s
successful energy private equity practice that has raised over $8
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 assets in North America.
The firm is headquartered in Los Angeles with offices in Houston, New
York City, Chicago, Denver, Dallas, Atlanta, Portland and Boca Raton.
For more information, please visit www.kaynecapital.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170519005473/en/
Copyright Business Wire 2017
Source: Business Wire
(May 19, 2017 - 11:05 AM EDT)
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