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.
Recommended Reading
JMR Services, A-Plus P&A to Merge Companies
2024-03-05 - The combined organization will operate under JMR Services and aims to become the largest pure-play plug and abandonment company in the nation.
Chord Energy Updates Executive Leadership Team
2024-03-07 - Chord Energy announced Michael Lou, Shannon Kinney and Richard Robuck have all been promoted to executive vice president, among other positions.
First Solar’s 14 GW of Operational Capacity to Support 30,000 Jobs by 2026
2024-02-26 - First Solar commissioned a study to analyze the economic impact of its vertically integrated solar manufacturing value chain.
SunPower Begins Search for New CEO
2024-02-27 - Former CEO Peter Faricy departed SunPower Corp. on Feb. 26, according to the company.
ConocoPhillips EVP of Strategy, Sustainability, Technology Macklon to Retire
2024-02-16 - Dominic Macklon, who began his career with Conoco in 1991, is set to retire ConocoPhillips May 1.