Zenergy, Inc. And Apollo Global Management Announce Partnership With $755 Million Of Committed Capital
Zenergy, Inc. (“Zenergy”) and funds managed by affiliates of Apollo
Global Management, LLC (NYSE:APO) (together with its consolidated
subsidiaries, "Apollo") have formed a partnership to invest in the
Zenergy, Inc. (“Zenergy”) and funds managed by affiliates of Apollo Global Management, LLC (NYSE:APO) (together with its consolidated subsidiaries, "Apollo") have formed a partnership to invest in the acquisition and development of upstream and midstream oil and gas properties. The partnership was formed effective May 1, 2014 with total committed capital of $700 million from funds managed by affiliates of Apollo and $55 million from Zenergy, its affiliates and management team. The partnership, Zenergy, LLC, will focus on assets in the Mid-Continent, Texas and Arkansas-Louisiana-Texas regions. Zenergy Chief Executive Officer and Co-Founder Bob Zinke said, “I am extremely pleased to partner with Apollo given its stellar track record and reputation as one of the world’s leading alternative investment managers. With its depth of operating experience and strength as a capital provider, we believe Apollo is perfectly positioned to help us create a best-in-class entity to tap into the enormous opportunities across the world-class fields in our focus areas.” Sam Oh, Apollo Private Equity Senior Partner said, “We are extremely delighted to be partnering with such a premier oil and gas firm whose long and proven track record fits with our strategic investment objectives in the lower 48 states.” Jefferies, Inc. served as financial advisor to Zenergy. About Zenergy Zenergy, Inc. (f/k/a) Zinke & Trumbo, Inc., founded in 1980 by Chief Executive Officer Bob Zinke and Senior Vice President Exploration David Trumbo, is headquartered in Tulsa, Oklahoma and maintains a regional office in Houston, Texas. The Company, which employs 60 people, specializes in all phases of the upstream and midstream oil and gas business. Zenergy organically and successfully assembled, operated and sold three businesses in the upstream and midstream spaces of the Bakken/Three Forks plays in the Williston Basin, North Dakota. In these ventures Zenergy assembled over 300,000 net acres of oil and gas leasehold, drilled and completed over 250 horizontal wells and successfully installed and operated over 450 miles of oil, gas and produced water gathering systems.