Oklahoma-based exploration and production company Panther Energy Co. III LLC secured a $375 million equity commitment from Kayne Anderson Energy Fund VIII LP, Panther III's management team and other co-investors to jump-start its process of hunting for oil and gas opportunities in the U.S.
Panther III was established to focus on oil resource plays, including the Permian and Mid-Continent regions, according to a Dec. 21 news release.
Panther III is led by Berry Mullennix as president and CEO and Roy Grossman as senior vice president and COO. Mullennix and Grossman previously headed Panther Energy Company II LLC, a portfolio company of Kayne Anderson Energy Fund VI LP, which divested its Delaware Basin assets in early 2017.
Kayne Anderson Capital Advisors LP's energy funds have raised more than $6.3 billion of committed capital for private equity investments in upstream and midstream oil and gas.