Latest Newton Energy Partners News
Jul 10, 2018
September 30, 2011 04:53 PM Eastern Daylight Time HOUSTON--( BUSINESS WIRE )--Newton Energy Partners, LLC, through its Canadian affiliate, NEP Canada ULC (together, "Newton"), is pleased to announce it has acquired all outstanding shares of MEC Operating Company, ULC (“MEC”). MEC’s assets consist of five fields in Alberta, including the historic Leduc Woodbend field located close to Edmonton, Alberta. The MEC assets are currently producing 2,400 net boe/d (60% liquids) from approximately 225 producing wells on 73,000 gross acres and include several hundred inactive wellbores available for future projects. Bud Newton, Newton’s President and CEO, describes these assets as one of the most “opportunity-rich legacy assets” he has seen in his career and is an ideal fit for the Newton management team. “We plan to execute an aggressive drilling and workover program over the next few years that will result in significant production and reserves growth. Additionally, we will continue to pursue additional acquisitions in the country.” Newton Energy Partners, LLC was formed in October, 2010 by Bud Newton and Kayne Anderson Energy Funds. Newton Energy Partners, LLC is headquartered in The Woodlands, Texas. NEP Canada ULC will have its offices in downtown Calgary, Alberta. About Kayne Anderson Energy Funds Established in 1998, Kayne Anderson Energy Funds manage $2.7 billion of committed capital for energy private equity investments. With offices in Houston, Texas and Los Angeles, California, Kayne Anderson invests private capital primarily in high-growth oil and gas companies. For more information on Kayne Anderson’s energy private equity investing, please visit www.kaynecapital.com , or contact either David Habachy, Senior Vice President, at (713) 493-2006 or Mark Teshoian, Senior Vice President, at (713) 493-2005.