Flywheel Energy, LLC
621 N Robinson, Suite 300, Oklahoma City, Oklahoma, United States

Flywheel Energy began as Valorem Energy in early 2017 with backing from the Kayne Anderson 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 for a purchase price of $165 million in cash, a $130 million 6% 3-year senior unsecured note due 2022, and approximately 5.6 million shares of Northern common stock (as adjusted for customary purchase price adjustments).

In August of 2018, the Fund committed a second time to the management team with $700 million of equity in the form of the newly-formed 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.

Concurrent with the new commitment, Flywheel signed a definitive agreement to acquire Southwestern Energy’s legacy gas properties and affiliated midstream business in the Fayetteville Shale in Arkansas for $1.865 billion. With this acquisition, Flywheel entities have made over $2.1 billion of acquisitions since 2017.