2009-06-05-2009-06-05-2009-06-05

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
MM
Description

Bought 40% WI in Panther Creek project in Lee County, TX.

KA Compass LLC, an affiliate of Kayne Anderson Energy Funds, has acquired a 40% interest in the Panther Creek project in Lee County, Texas, from Houston-based privately held Compass Resources Operating LLC, a Natural Gas Partners portfolio company, for an undisclosed price. Compass holds approximately 21,000 gross acres targeting the Navarro, Austin chalk, Georgetown and Edwards trend plays in Panther Creek with two existing producing wells. In addition to cash consideration, KA Compass will also participate in drilling four wells beginning this summer to further develop the project. Additionally, Kayne Anderson has joined Natural Gas Partners in an equity commitment to Compass Resources II LP. Compass Resources focuses on low-risk resource plays and special situation opportunities in conventional fields in the Rockies and Texas, including approximately 87,000 gross acres in Wyoming and the Rocky Mountain shale plays.