TULSA, Okla.–(BUSINESS WIRE)–Triumph Energy Partners, LLC (“Triumph”) announced today that it has closed on the purchase of oil and gas assets in the STACK play for a purchase price of $74.5 million. The assets include approximately 8,000 net acres (100% HBP) and 5 mmcfe/d of net production in Blaine, Kingfisher and Canadian Counties, Oklahoma.
“The STACK play is proving to generate superior returns in a challenging environment, particularly in the overpressured window,” commented Jack Kueser, CEO of Triumph. “We believe this asset, which is concentrated in the overpressured window, will provide Triumph a springboard towards more growth in the STACK via acquisitions, partnerships and drilling opportunities.”
“We are thrilled to continue our partnership with the Triumph management team, which has an impressive track record of creating value. This position is in the core of the STACK play, where results continue to improve, and is a great representation of the kind of opportunity Kayne Anderson Energy Funds is seeking to capitalize on in the current environment,” said David Habachy, Managing Director at Kayne Anderson.
Headquartered in Tulsa, Oklahoma, Triumph will pursue the acquisition of oil and gas assets with scalable exploitation and development upside. Triumph will consider opportunities throughout select North American basins with an initial focus on the Mid-Continent region. For more information, please contact Jack Kueser at 918-986-8270.
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 over $21 billion in assets (as of 4/30/2016) 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.