A recently launched Lower 48-focused energy firm has received a $500 million investment from private equity giant Kayne Anderson Capital Advisors LP.

blackknight

Santa Clarita, CA-based Black Knight Energy LLC was formed earlier this year “to pursue the acquisition and development of large, cash flowing oil and natural gas assets” across the Lower 48, the company said.

Black Knight is led by CEO Todd Stevens, the former CEO of California Resources Corp., the largest exploration and production (E&P) company in the state. Stevens took the helm at California Resources in 2014 after the company spun off from Occidental Petroleum Corp. He left at the end of 2020.

“We have assembled a great team at Black Knight, with a disciplined focus on value creation, operating cash flow and margin...