Twitter LinkedIn
    Saturday, February 4
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Acquisitions»KKR plans more shale acquisitions after $5.5B Contango Oil & Gas deal
    Acquisitions

    KKR plans more shale acquisitions after $5.5B Contango Oil & Gas deal

    June 8, 2021Updated:June 8, 20211 Min Read
    LinkedIn Facebook Twitter Email WhatsApp
    CEO of Kohlberg Kravis Roberts & Co (KKR) Henry Kravis (R) departs after meeting India's Prime Minister Narendra Modi at a breakfast in the Manhattan borough of New York September 29, 2014. REUTERS/Carlo Allegri (UNITED STATES - Tags: POLITICS BUSINESS) - RTR487MO
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    KKR & Co. is building a shale-oil acquisition vehicle with the $5.7 billion combination of two little-known explorers.

    The buyout firm’s Independence Energy will merge with Contango Oil & Gas Co. in an all-stock deal that will be used to hunt down even bigger deals, Contango Chairman John Goff told analysts during a conference call on Tuesday.

    KKR is bucking the trend among private-equity peers that have been unloading shale investments after back-to-back oil-market busts. After years of poor returns and swelling debtloads, shale drillers were already out of favor when the Covid-19 pandemic crushed energy demand. KKR’s move may signal a bullish turn with U.S. crude prices heading for the best annual performance since 2015.

    “We think this is the right way to run an oil and gas business and we’re well-positioned going forward,” David Rockecharlie, who leads the KKR team that will manage the combined business, said in an interview. “The two companies have similar strategies in pursuing a differentiated cash flow and risk-based business.”

    Read more/Source: World Oil

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    Acquisitions KKR Oil & Gas peinsider Private Equity
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Euroclear moves into $9.8 trillion private asset market with Goji buy

    December 21, 2022

    Warburg Pincus acquires K2 Insurance Services from Lee Equity Partners

    December 6, 2022

    CAI raises over $1B for inaugural fund and co-investment programme

    November 18, 2022

    KKR looking to sell Canadian gas producer Westbrick for $1.13B

    November 18, 2022

    Comments are closed.

    Other Articles

    BlackRock achieves close on giant private equity Eltif

    April 30, 2021

    Social gaming firm Rec Room valued at $3.5 billion in Coatue-led funding round

    December 22, 2021

    Silver Lake invests $400m in cloud subscription management platform Zuora

    March 4, 2022

    KKR looking to sell Canadian gas producer Westbrick for $1.13B

    November 18, 2022

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2023 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.


    Lost password?