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Kayne Provides $300MM to Valorem Energy

May 22, 2017, 08:00 AM
Filed Under: Energy

Kayne Private Energy Income Fund LP -- an investment vehicle of Kayne Anderson Capital Advisors -- has provided $300 million in funding to Valorem Energy LLC. Based in Oklahoma City, Oklahoma, Valorem is an oil and natural gas company.

Valorem Energy, LLC, 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. 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.”

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