CAPITAL: KRAKEN II IS BORN

CAPITAL: KRAKEN II IS BORN

Kraken Oil & Gas II raised $200m from Kayne Anderson through its Fund VII, L.P., according to a statement from Locke Lord on October 12.

Kraken was originally formed in 2012 to target the Bakken, according to its website. Kayne Anderson backs the first iteration of the company, as well.

Its management team consists of the following executives:

Bruce Larsen, President & CEO
Before forming Kraken, Mr. Larsen was Executive Vice President of Ursa Resources Group LLC, where he led the company’s Williston Basin entry, developed the company’s Bakken Shale geologic model, and oversaw leasing of 120,000 net acres.

Brad Suddarth, Executive Vice President & CFO
Before helping form Kraken, Mr. Suddarth was Vice President & CFO of Ursa Resources Group LLC where he managed the company’s finance and accounting, commercial analysis, and A&D functions.

Matt Bauerschlag, Vice President – Engineering
Prior to joining Kraken, Mr. Bauerschlag was the Engineering Manager for the Houston Office of Red Willow Production Company. There he managed the company’s operated Permian Basin Exploration Program in addition to their non-operated Deep Water Gulf of Mexico exploration program.

 

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