Balidor Oil & Gas has secured a USD150 million equity commitment from Kayne Anderson Energy Funds and members of the Balidor management team.
Balidor is a Houston, Texas based independent oil and gas company formed to target the acquisition and development of oil and natural gas assets in North America.
The Balidor management team is led by Dave Baker, CEO; Brian Dorr, COO; and Steve Liles, Vice President. Prior to forming Balidor, Dave Baker and Brian Dorr served as senior executives at Breitburn Energy (“Breitburn”) where Dave Baker served as Senior Vice President of Operations, managing engineering and operations for all of Breitburn’s assets, and Brian Dorr served as Vice President of Operations, managing Breitburn’s E&P operations in six states. Steve Liles joins the team from his prior role as Executive VP and COO for BETA Offshore.
Balidor’s CEO, Dave Baker, says: “We are excited for this opportunity to partner with Kayne Anderson, and are pleased with the working relationship and mutual trust that has been established. I’m fortunate to have Brian and Steve as partners who I greatly value for their integrity, work ethic, experience, and abilities. I’m confident that together, we will build a successful oil and gas company.”
“We believe the current market environment provides a great opportunity for private equity-backed companies and we are confident the Balidor team has the technical, operational, and commercial execution experience to capitalise on this unique time in the oil and gas industry,” said David Habachy, Managing Director at Kayne Anderson.