Newly-Formed Indianola Energy Gets $100MM Equity Commitment
U.S. investment firm Kayne Anderson Energy Capital Advisors, L.P. has launched a new venture to pursue the acquisition and development of highly-proven resource plays in North America.
The newly-formed company, named Indianola Energy, LLC, received a $100 million commitment from its management team and Kayne Anderson to help producers acquire undeveloped acreage in North America.
“We are excited to partner with Kayne Anderson to deploy our strategy, which is centered on operations and execution capabilities,” Indianola CEO Chapman Armend said in a release. “As the market has shifted to placing a preference on living within cash flow, we believe Indianola’s strategy is helpful to the industry today by providing creative solutions to offer value for non-producing assets in highly proven basins. Indianola will seek to implement this strategy through both outright acquisitions and partnership structures designed to accelerate value for operators.”
Indianola is led by Armend and Todd Burgamy, who serves as partner in the company.
Prior to founding Indianola, Chapman served as vice president of operations at Millennial Energy Partners, a private oil and gas company focused in Oklahoma’s STACK play. Burgamy previously served as senior vice president for the energy private equity group at Kayne Anderson.
Indianola is based in Houston.
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