Flywheel Energy began as Valorem Energy in early 2017 with backing from the Kayne Anderson Private Energy Income Fund. In 2017, Valorem acquired interests in the Williston Basin for $285 million, and subsequently sold those interests to Northern Oil & Gas in 2019 for a purchase price of $165 million in cash, a $130 million 6% 3-year senior unsecured note due 2022, and approximately 5.6 million shares of Northern common stock (as adjusted for customary purchase price adjustments).
In August of 2018, the Fund committed a second time to the management team with $700 million of equity in the form of the newly-formed Flywheel Energy. Flywheel Energy is a private exploration and production company formed to acquire and operate large, producing onshore U.S. oil and gas assets with an emphasis on the Rockies and Mid-Continent.
Concurrent with the new commitment, Flywheel signed a definitive agreement to acquire Southwestern Energy’s legacy gas properties and affiliated midstream business in the Fayetteville Shale in Arkansas for $1.865 billion. With this acquisition, Flywheel entities have made over $2.1 billion of acquisitions since 2017.
| Company Name | Flywheel Energy, LLC |
| Business Category | Oil & Gas |
| Address | 621 N Robinson Suite 300 Oklahoma City Oklahoma United States ZIP: 73102 |
| President | NA |
| Year Established | 2017 |
| Employees | NA |
| Memberships | NA |
| Hours of Operation | NA |
| Phone Number | Locked content | Subscribe to view |
| Fax Number | Locked content | |
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| Website | Locked content |