HOUSTON, Texas (July 19, 2011) – Frank McCorkle, Key Sanford and Gene Roberts reported that they have formed Treadstone Energy Partners LLC, an independent oil and natural gas company headquartered in Houston, Texas. Treadstone will focus on the acquisition and development of conventional oil and natural gas properties with identifiable exploitation and development upside in the Mid-Continent region and Texas. Treadstone is an investment portfolio company of Kayne Anderson Energy Funds with an initial equity commitment from Kayne Anderson Energy Fund V and management of $50 million.
Prior to forming Treadstone, the founders worked together at BP in the North American Gas Performance Unit. Most recently, the founders served in key leadership positions during BP’s entry into the Eagle Ford Shale. The management team has a combined 65 years of industry experience.
Mr. McCorkle graduated from the University of Tulsa with a Bachelor’s degree in Petroleum Engineering. Mr. Sanford graduated from Texas A&M University with a Bachelor’s degree in Business Management and from the University of Texas with a Bachelor’s degree in Petroleum Land Management. Mr. Roberts graduated from the Colorado School of Mines with a Bachelor’s degree in Chemical Engineering.
“We are excited to partner with Treadstone, as they have demonstrated exceptional leadership and capability in identifying oil and gas assets with significant upside potential,” says Mike Heinz, senior managing director at Kayne Anderson. “Frank, Key and Gene share a unique breadth of experience that will enable them to capitalize upon attractive investment opportunities in today’s active A&D market.”
“We appreciate the faith and trust that the Kayne Anderson team has extended to us, and are pleased with the partnership and working relationships that we have established with the portfolio team,” says Frank McCorkle, Treadstone’s president and CEO. “I am fortunate to have partnered with two of the best individuals that the industry could offer to help build a prosperous oil & gas company. We are excited about the journey that lies in front of us.”