OKLAHOMA CITY, Sept. 17, 2020 /PRNewswire/ -- Flywheel Energy, LLC, and certain wholly-owned subsidiaries ("Flywheel" or the "Company"), an independent oil and natural gas company headquartered in Oklahoma City, Oklahoma and backed by the Kayne Private Energy Income Funds ("KPEIF") platform, recently achieved a TrustWell™ Gold overall rating by International Environmental Standards PBC ("IES") for its Fayetteville Shale gas production operations.
To achieve a TrustWell™ Gold overall rating, Flywheel underwent a rigorous review of hundreds of different aspects of their operations, including 32 required data elements that demonstrate Responsibly Sourced Gas ("RSG") . The data elements pertain to greenhouse gas ("GHG") and overall air emissions, environmental stewardship, spill prevention and response, waste management, emergency response preparedness, well integrity and other ESG related factors.
"We are proud of our TrustWell™ Gold rating as we continuously work to uphold the highest ESG standards in our daily operations. That said, we recognize the importance of and are committed to further improving our ESG performance over time," commented Justin Cope, Chief Executive Officer of Flywheel. "Our commitment to safety and environmental stewardship remains a key element of our core behaviors as we work to create long-term value for our investors and stakeholders."
"The Income Funds platform is committed to safe and environmentally sound operations at all our companies," said Danny Weingeist, Managing Partner of KPEIF. "Flywheel's dedication to ESG has been exemplary and this recognition is well deserved."
ABOUT 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. Flywheel Energy began as Valorem Energy in early 2017 with backing from the Kayne 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.
In December 2018, Flywheel acquired Southwestern Energy's upstream and midstream businesses in Arkansas' Fayetteville Shale for $1.865 billion. Flywheel entities have made over $2.1 billion of acquisitions since 2017.
ABOUT KAYNE ANDERSON CAPITAL ADVISORS
Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading alternative investment management firm focused on infrastructure, real estate, credit and private equity. Kayne Anderson's investment philosophy is to pursue niches, with an emphasis on cash flow, where our knowledge and sourcing advantages enable us to deliver above average, risk-adjusted investment returns. Kayne manages over $30 billion in assets (as of 6/30/20) for institutional investors, family office, high net worth and retail clients and employs 370 professionals in five offices across the U.S.
The Kayne Private Energy Income Funds platform is part of Kayne Anderson's successful energy private equity practice that has raised over $10 billion since 1998. The strategy was formed in late 2014 to take advantage of the market opportunity to acquire and develop large, long-life producing oil and gas assets in North America.
Kayne Anderson is headquartered in Los Angeles with offices in Houston, New York City, Chicago and Boca Raton. For more information, please visit www.kaynecapital.com.
SOURCE Flywheel Energy