Balidor Oil & Gas LLC received $150 million in equity from Kayne Anderson Energy Funds, Kayne Anderson Capital Advisors LP said July 9. Some of Balidor’s management team also provided some of the commitment.
Houston-based Balidor acquires North American oil and natural gas assets. Its management team is led by Dave Baker, CEO; Brian Dorr, COO; and Steve Liles, vice president.
Prior to forming Balidor, Baker was senior vice president of operations at Breitburn Energy, and Dorr was vice president of operations there. Baker handled engineering and operations for the company’s assets, and Baker handled E&P operations in six states. Previously, Liles was executive vice president and COO for BETA Offshore.
“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,” Baker said.
“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.
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