Cantera Energy LLC (“Cantera”), an investment portfolio company of Kayne Anderson Energy Funds, announces that on July 24, 2013 it closed on the acquisition of certain South Texas assets from EP Energy (“EPE”). The assets consist of over 750 producing wells covering 78,000 net acres located in nine counties in Texas.
John Kelly, Cantera’s President and CEO, said, “We are extremely excited about this transaction and believe the acquired assets represent an attractive set of long-life natural gas properties with a large, stable production base. Our technical team has identified numerous low-risk opportunities which will increase the overall value of the properties.”
David Iverson, Managing Director at Kayne Anderson, stated, “We believe that this is the right acquisition for Cantera and are pleased to have acquired a strategic, long-life gas asset, of which management has a deep working knowledge. We are excited about our continued partnership with Cantera and look forward to the company’s future growth.”
Cantera is a private E&P company with headquarters in The Woodlands, Texas. The company was formed in 2012 to focus on the acquisition and development of oil and gas properties with identifiable exploitation and development upside in the South Texas and onshore Gulf Coast regions. For more information, please visit www.canteraenergy.com.