All American confirms $50MM credit facility from AB-PCI

All American Oil & Gas, a private independent oil and gas exploration and production company, has entered into a $50 million second lien term loan facility with AB Private Credit Investors LLC (AB-PCI), the middle-market direct-lending platform of AllianceBernstein (AB), to refinance debt and fund reserve development in the Kern River oil field. 

All American Oil & Gas, through its upstream entity Kern River Holdings Inc., is the largest private oil and gas producer in the Kern River field. Founded in 2004, All American has grown production to over 2,000 barrels of oil a day through its enhanced oil recovery steam flood program.

Cappello Global, LLC acted as exclusive financial advisor to All American Oil & Gas and Kern River Holdings. Jones Day and Vinson & Elkins served as legal advisors on the transaction.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...