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Newly Formed Sabinal’s $300M Infusion to Fund U.S. Onshore Opportunities

Newly formed Sabinal Energy LLC has received a $300 million equity commitment from Kayne Private Energy Income Fund LP to prowl for oil and natural gas properties primarily in the Rockies, Midcontinent and Texas.

The privately held independent, headquartered in The Woodlands outside Houston, is led by President and CEO Bret Jameson, who most recently served as COO for Lewis Energy. Jameson also is formerly vice president for Devon Energy Corp.'s Anadarko Basin business unit.

"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," Jameson said.

Sabinal plans to target "mature fields with established and predictable production profiles in geographic areas with consolidation opportunities."

The senior management team also includes two former Devon executives, Executive Vice President (EVP) Chris McMahon, who is responsible for technical evaluations, and EVP-Land Dan Higdon. Higdon also worked for Exco Resources Inc. from 2013 until this year. CFO Jeff Gutman, former financial chief for Jefferson Energy Cos., also served as a senior vice president at Chaparral Energy Inc..

The Kayne fund is part of Kayne Anderson's private equity practice that has raised more than $7 billion since 1998. The energy fund was formed in mid-2014 to take advantage of the market opportunity to acquire and develop large, long-life producing oil and gas assets in North America.

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