Flywheel Energy, LLC (Flywheel) has announced the closing of an equity commitment of USD 700M by the Kayne Private Energy Income Funds platform and members of Flywheel management. The commitment represents the platform’s second partnership with the Flywheel management team, following its original investment in 2017.
Concurrent with the new commitment, Flywheel has signed definitive agreements to acquire Southwestern Energy Company’s natural gas properties and affiliated midstream business in the Fayetteville Shale in Arkansas for USD 1.865B.
The assets include 716 mmcf/d of net production from 4,033 producing wells across over 900,000 net acres and an integrated midstream gathering system with over 2,000 miles of gathering pipelines and more than 50 compressor stations, all located in central Arkansas.