KKR, a global investment firm, is backing Roland Wessel, Colin Judd, and Melvyn Horgan, founders and former management team of Star Energy, to launch Trans European Oil & Gas Ltd.
Trans European Oil & Gas intends to build a portfolio of conventional onshore oil and gas properties in proven hydrocarbon plays in Europe, and apply its experience in enhanced oil recovery (EOR) techniques to optimize production.
The investment in Trans European Oil & Gas will be made primarily by the KKR European Fund IV.
Established in 1999, Star Energy made several acquisitions of producing assets and applied EOR techniques. Star Energy grew to encompass 25 producing oil and gas fields and a commissioned 10 bcf gas storage facility. Star Energy listed on AIM in 2004 and was acquired by Petronas in 2008.