Live Oak Announces Closing of Inaugural Fund
Houston, Texas – Live Oak Resource Partners, LLC (“Live Oak”) announced today the final closing of its inaugural royalty and mineral fund, Live Oak Resource Partners I, LP (the “Fund” or “Partnership”). Based in Houston, Live Oak focuses on the aggregation of natural gas weighted royalty and mineral acquisitions.
“We are sincerely appreciative of our investors for the confidence placed in Live Oak to execute on its inaugural Fund. We know investing in a down cycle is challenging and we are working diligently every day to deliver for our partners. We look forward to building quality long term relationships with our investors for future endeavors.” said Andrew Keene, Co-Founder and President and Chief Financial Officer.
Commenting further, Mr. Keene said: “When we launched in January we thought the Partnership would be an excellent opportunity for investors to acquire natural gas weighted properties at an advantageous point in the price cycle. Today, with macro trends supporting the outlook for natural gas prices, we think we have the wind at our back.”
Brandon Meyers, Co-Founder, and Vice President of Land and Business Development commented: “We have been very pleased with the volume of deal flow and we continue to close quality transactions at attractive valuations. We believe that as prices stabilize, drilling and completion activity will pick up, which stands to benefit our existing portfolio and further our opportunity set.”
Prior to launching Live Oak’s inaugural Fund, the management worked in banking and the energy industry. Mr. Keene previously spent over 8 years in corporate and investment banking for Natixis and Citibank, most recently at Natixis focused on non-investment grade exploration and production companies. Mr. Meyers worked over 8 years as a landman with Goodrich Petroleum, Marathon Oil, and Texakoma Operating and was involved with leasing, joint ventures, acquisitions and divestitures in numerous basins and plays.
Willkie, Farr, & Gallagher LLP served as legal advisor and Fund formation counsel to the Partnership. Transcontinental Fund Administration, Ltd. serves as Fund Administrator for the Partnership.
About Live Oak Resource Partners
For more information visit www.liveoakrp.com.