HOUSTON--(BUSINESS WIRE)--Phoenix Natural Resources, LLC (“Phoenix” or the “Company”) today announced a $250 million equity commitment from Kayne Anderson Energy Funds (“Kayne Anderson”) and members of the management team. Phoenix will target the acquisition and development of oil and natural gas assets in North America.
Phoenix is a newly formed independent oil and gas company headquartered in Houston, Texas. The Phoenix management team is led by Russell Parker, CEO; Jim Mooney, CFO; Ray Ambrose, SVP of Engineering; Chad England, SVP of Operations; and Mark Hargis, SVP of Geology. Management has extensive technical and operational experience across several North American basins. Prior to forming Phoenix, members of management most recently served in senior leadership positions in private companies, including Chief Oil & Gas and Hilcorp.
Phoenix’s CEO, Russell Parker, commented, "We are very excited to be partnered with Kayne Anderson. Kayne has a unique and creative approach that fits well with the Phoenix team. I am equally as pleased and excited to be teamed up with the high caliber and incredible drive represented by the individuals that make up the Phoenix management team.”
“We are thrilled to begin a partnership with a proven management team and are excited for Phoenix to capitalize on the current market environment by deploying their technical and operational expertise,” said David Habachy, Managing Director at Kayne Anderson.
About Phoenix
Headquartered in Houston, Texas, Phoenix will pursue acquisitions of oil and gas assets with scalable exploitation and development upside. The Company will consider acquisition and redevelopment opportunities throughout select North American basins with an initial focus on the Eagle Ford. The founding management team has extensive technical, operational and commercial expertise and is driven to capitalize on the unique opportunities presented in our industry at the present time.
About Kayne Anderson
Kayne Anderson Capital Advisors, L.P., 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’s investment philosophy is to pursue niches, with an emphasis on cash flow, where our knowledge and sourcing advantages enable us to deliver above average, risk-adjusted investment returns. Kayne manages $19 billion in assets (as of 2/29/2016) for institutional investors, family offices, high net worth and retail clients and employs more than 300 professionals in eight offices across the U.S.
Through Kayne Anderson Energy Funds, the firm has raised over $5.8 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.