Kayne Anderson Capital Advisors LP is backing new California-based private E&P company, Black Knight Energy LLC, with an equity commitment in excess of $500 million.

The commitment was announced in a release from Black Knight Energy on Aug. 17. Led by Todd Stevens, formerly the head of California Resources Corp. (CRC), Black Knight was formed in 2021 to pursue the acquisition and development of “large, cash flowing oil and natural gas assets across the Lower 48,” according to the release. 

“I am excited to be partnering with Kayne Anderson in this new venture,” commented Stevens, who serves as CEO of Black Knight, in the release. “We have assembled a great team at Black Knight, with a disciplined focus on value creation, operating cash flow and margin enhancement through safe, responsible operations.”

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