TreadStone Energy Partners III Receives $180M Equity Commitment from Kayne Anderson Energy Funds
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Following the successful divestment of its oil and gas assets in the Hearne field of East Texas in December 2021, the former management team of TreadStone Energy Partners II has formed TreadStone Energy Partners III with an equity commitment in excess of $180 million from Kayne Anderson Energy Fund and TreadStone III management. TreadStone III represents the continuation of a successful partnership with Kayne Anderson Energy Funds dating back to the 2011 formation of TreadStone Energy Partners.
TreadStone III is a private exploration and production company that will pursue the acquisition of producing oil and natural gas properties with exploitation and development upside. The TreadStone III management team is led by Greg West as chief executive officer, Frank McCorkle as president, Leandro Vargas as vice president Land & General Counsel, and David Kita as vice president Subsurface.
“TreadStone has assembled a talented team and we are excited to partner again with Kayne Anderson to build on the legacy established by the successful TreadStone I and TreadStone II investments. The working relationship with the Kayne team has been essential in our prior success and will play a critical part in the execution of the company’s goals,” said Greg West, TreadStone chief executive officer.
“We are thankful for this opportunity to continue what has been an extremely successful partnership with the TreadStone team. Management has proven themselves to be best-in-class operators throughout the course of our 11-year relationship, and we believe TreadStone III’s roster is filled with the experience necessary to thrive in today’s quickly evolving oil and gas environment,” said Ryan Sauer, managing director at Kayne Anderson Energy Funds.
About TreadStone Energy Partners III
TreadStone Energy Partners III, is a Houston-based, private energy company focused on acquisitions of producing properties with scalable exploitation and development upside across the lower 48, with an initial focus on Texas & New Mexico basins.
To stop by TreadStone’s website, CLICK HERE
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