HOUSTON--(BUSINESS WIRE)--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.
“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.”
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.
About Kayne Anderson Energy Funds
Established in 1998, Kayne Anderson Energy Funds, with offices in Houston and Los Angeles, provides private equity financing primarily for high-growth oil and gas companies across North America. The firm has raised six dedicated energy private equity funds totaling over $4.3 billion in committed capital and invested in more than 80 portfolio companies. Kayne Anderson Energy Funds is a part of Kayne Anderson Capital Advisors, L.P., a leading alternative investment management firm with $23 billion in assets under management and nearly 30 years of successful investing experience. Kayne Anderson Capital Advisors L.P. focuses on niche investing in energy and energy infrastructure, real estate, middle market credit, growth equity, and municipal opportunities. For more information, please visit www.kaynecapital.com.