KKR and Venado Oil and Gas LLC have partnered to consolidate assets in the Eagle Ford Shale. The partnership is principally funded by KKR's Energy Income and Growth Fund I (EIGF).
Scott Garrick, CEO of Venado, added, "We are excited to partner with KKR in the Eagle Ford, where we both see the opportunity to build a large scale, long-term business. Both Venado's management and KKR have been active in the Eagle Ford since the early phase of development, and we share the same vision of the next phase of its evolution. This provides an ideal foundation for a strong partnership."
Kirkland & Ellis LLP advised KKR on the decision.