By Houston Business Journal

Oil and gas startup XOG LLC is receiving a $50 million equity commitment led by the Houston companyâ¿¿s management and Kayne Anderson Energy Funds.

XOG was founded in December by Wes VanNatta and Greg Miller. VanNatta was previously with Force 5 Energy LLC, while Miller was with Common Resources.

It develops oil and gas properties in the Ark-La-Tex and onshore Gulf Coast Texas regions.

Miller said funding from the equity round will go toward general and administrative costs for the company as well as to buy production in the focus areas.

Copyright 2011 American City Business Journals
Copyright 2010