TreadStone II receives $100 million equity commitment

Following the divestment of the Fort Trinidad field in July, the former team of TreadStone Energy Partners LLC (TreadStone I) has formed TreadStone Energy Partners II LLC (TreadStone II) with a $100 million equity commitment from Kayne Anderson Energy Fund VI LP and members of the management team.

TreadStone II will focus on opportunities in the Mid-Continent region and Texas. In 2011, TreadStone I acquired the Fort Trinidad field (consisting of 18,300 net acres located in Houston and Madison counties, Texas) for $17.7 million. TreadStone I subsequently ran a three-rig development program and increased production from less than 20 bopd at the time of acquisition to over 10,000 bopd at exit. On July 22, TreadStone I sold the Fort Trinidad field to Energy & Exploration Partners for total consideration of $715 million.

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