US-based Native Exploration secures $140m funding

Native Exploration Holdings has secured financing commitments for more than $140m from its management team and alternative investment management company Kayne Anderson Energy Funds.

Headquartered in the US, Native is a newly formed independent oil and gas company founded by co-CEOs Lane Gibbs and Matt Whitaker.

The founders were previously engaged in the acquisition of leasehold, minerals and royalties primarily in the SCOOP and STACK plays of Oklahoma through their predecessor entity, Native Oil & Gas.

Lane Gibbs and Matt Whitaker said: “The Native team is incredibly excited about the opportunity to partner with Kayne Anderson, and believes this venture will create a great opportunity for Native to continue to exploit its strategy in the Mid-Continent while delivering attractive rates of return.”

“With Kayne Anderson’s successful track record and financial strength, we look forward to a prosperous relationship.”

Native intends to undertake acquisitions of oil and gas assets with potential for exploitation and development.

It is focused on opportunities in the Mid-Continent region, specifically in Oklahoma.

Established in 1984, Kayne Anderson Capital Advisors invests in upstream oil and gas companies, as well as energy and infrastructure.

It raised capital in excess of $6.3bn dedicated to energy private equity investments, specifically in upstream and midstream oil and gas companies, with around 25 portfolio companies across North America.