Momentum Oil and Gas, LLC, a newly formed independent oil and natural gas company based in Houston, Texas, has received a $50m initial equity commitment from Kayne Anderson Energy Fund V and management.
The company will focus on the acquisition and development of oil and natural gas properties with identifiable exploitation and development upside in the Mid-Continent and onshore Gulf Coast regions.
Momentum was formed by Chairman and CEO Rusty Shepherd and Loren Long, who worked together at The Houston Exploration Company and Anadarko Petroleum Corporation.
Most recently, Mr. Shepherd served as VP of Engineering for Crimson Exploration Inc., Mr. Long as Manager of Acquisitions and Evaluations for Phoenix Exploration Company.
The management team of the new company has a combined 35 years of upstream experience with an emphasis on technical evaluation and operational execution.