Black Knight Energy Receives $500 Million Equity Commitment from Kayne Anderson

SANTA CLARITA, Calif.--(BUSINESS WIRE)--Black Knight Energy, LLC (“Black Knight” or the “Company”) is pleased to announce it has received an equity commitment in excess of $500 million from funds managed by Kayne Anderson Capital Advisors, L.P. (“Kayne Anderson”), including Kayne Private Energy Income Fund II, L.P. (“KPEIF II”) and Kayne Anderson Energy Fund VIII, L.P. (“KAEF VIII”), alongside Black Knight’s management team.

Headquartered in Santa Clarita, California, Black Knight is a private energy company formed to pursue the acquisition and development of large, cash flowing oil and natural gas assets across the lower 48. The Black Knight management team is led by Todd Stevens as Chief Executive Officer, Darren Williams as Chief Operating Officer and Elizabeth DeStephens as Chief Strategy & Sustainability Officer. Prior to the formation of Black Knight, Todd most recently served as President and CEO of California Resources Corp. (“CRC”), a position he held since the company’s spin-off from Occidental Petroleum in 2014. Darren and Elizabeth also held senior management positions at CRC, most recently as Executive Vice President of Operations, Exploration and Development and Vice President of Reserves and Strategic Analytics, respectively.

Todd Stevens commented, “I am excited to be partnering with Kayne Anderson in this new venture. 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. With the right capital partner behind us in Kayne Anderson, we are well positioned for success.”

Mark Teshoian, Managing Partner at Kayne Anderson, said, “The Black Knight team has an exceptional operational and commercial track record having previously managed large-scale operations with a keen focus on environmental stewardship. We are fully confident in Todd and his entire team’s ability to create long-term value for our investors and we are excited to partner with them in the formation of Black Knight.”

ABOUT BLACK KNIGHT ENERGY

Formed in 2021, Black Knight Energy, LLC is a California-based, private energy company focused on the acquisition and development of large, cash flowing oil and natural gas assets across the Lower 48.

ABOUT KAYNE ANDERSON

Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading alternative investment management firm focused on real estate, credit, infrastructure/energy, renewables, and growth equity. Kayne Anderson’s investment philosophy is to pursue niches, with an emphasis on cash flow, where our knowledge and sourcing advantages enable us to deliver above average, risk-adjusted investment returns. As responsible stewards of capital, Kayne Anderson’s philosophy extends to promoting responsible investment practices and sustainable business practices to create long-term value for our investors. Kayne Anderson manages over $30 billion in assets (as of June 30, 2021) for institutional investors, family offices, high net worth and retail clients and employs over 325 professionals in five core offices across the U.S. For more information, please visit www.kaynecapital.com.