THE WOODLANDS, TEXAS – July 18, 2016 – Sabinal Energy, LLC (“Sabinal” or the “Company”), an independent oil and natural gas company headquartered in The Woodlands, Texas, is pleased to announce that the Company has received a $300 million equity commitment from Kayne Private Energy Income Fund, L.P. (“Kayne” or the “Fund”) and members of the management team.
Sabinal is a private exploration and production company formed to pursue the acquisition and development of large, long-life producing oil and gas assets primarily in the Rockies, Mid-Continent and Texas where members of management have extensive operational and development experience. Sabinal is led by President and CEO Bret Jameson. Bret most recently served as Chief Operating Officer for privately held and South Texas focused Lewis Energy, and as Vice President for the Anadarko Basin Business Unit for Devon Energy Corp., where he managed over 600 MMcfe/d and an annual budget of $850 million. Sabinal’s senior management team also includes Chris McMahon as Executive Vice President – Technical, Dan Higdon as Executive Vice President – Land, both of whom worked with Bret ;at Devon and Jeff Gutman as Executive Vice President and CFO.
“We are excited to be partnering with Kayne” said Jameson. “We believe that our team’s broad technical and operational experience alongside the technical and financial expertise of Kayne Anderson will provide an exceptional opportunity to take advantage of the current market environment.”