Balidor Oil & Gas, LLC (“Balidor” or the “Company”) today announced a $150 million equity commitment from Kayne Anderson Energy Funds (“Kayne Anderson”) and members of the Balidor management team. Balidor is a Houston, Texas based independent oil and gas company formed to target the acquisition and development of oil and natural gas assets in North America.
Balidor’s CEO, Dave Baker, commented, “We are excited for this opportunity to partner with Kayne Anderson, and are pleased with the working relationship and mutual trust that has been established. I’m fortunate to have Brian and Steve as partners who I greatly value for their integrity, work ethic, experience, and abilities. I’m confident that together, we will build a successful oil and gas company.”
“We believe the current market environment provides a great opportunity for private equity-backed companies and we are confident the Balidor team has the technical, operational, and commercial execution experience to capitalize on this unique time in the oil and gas industry,” said David Habachy, Managing Director at Kayne Anderson.
Balidor is headquartered in Houston, Texas. They will pursue acquisitions of oil and gas assets with scalable exploitation and development upside. The Company will evaluate opportunities across the onshore U.S. with a focus on the Ark-LA-Tex, Mid-Continent and Rockies regions.
Kayne Anderson Capital Advisors, L.P., is headquartered in Los Angeles, and is a leading independent alternative investment management firm focused on niche investing in upstream oil and gas companies, energy infrastructure, specialized real estate, middle market credit, growth private equity and distressed municipal opportunities.