True Oil Co. LLC

True Oil Co. LLC

True Oil Co. LLC

Overview
Date Founded

2013

Headquarters

5612 Drexel Court,Midland, TX 79707-9103

Type of Company

Private

Industries

Oil & Gas

Company Description

True Oil Co. LLC engages in the acquisition and development of oil and gas. Its services include identifying, purchasing, developing, operating and selling oil and gas assets in the Permian Basin. The company was founded by Ronnie Scott in December 2013 and is headquartered in Midland, TX.

Board of Directors

Co-Founder at Ares Management Corp.

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Investors
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Kayne Anderson Capital Advisors makes non-control investments in high-growth companies. These companies have reached an inflection point in their lifecycle, where an infusion of capital and the right partner can make a significant difference in helping companies achieve their growth plans. Kayne Anderson's investments have included structures such as debt with warrants, preferred equity, common equity, and hybrids of these structures. Their capital is most often used to finance working capital, expand geographically, develop infrastructure, expand sales and marketing efforts, invest in research and development or fund add-on acquisitions.Kayne Anderson manages a series of investment partnerships dedicated to private equity financings for high-growth exploration and production, midstream and oilfield service companies. They invest mainly in privately-issued common and preferred securities of both private and public companies. Their target investment size is generally $50 million to $150 million, but they can arrange larger financings through their network of co-investors. Kayne Anderson can hold majority or minority stakes, and typically have significant board representation on their portfolio companies.

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Ares Private Equity Group focuses on investment strategies as corporate private equity, special situations and U.S. power and energy infrastructure. The firm manages three dedicated investment teams in North America, Europe and China. They invest opportunistically across a broad spectrum of distressed or mispriced investments, including corporate debt, rescue capital, private asset-backed investments, post-reorganization securities and non-performing portfolios.Ares Private Equity Group makes majority, minority and shared-control investments, mainly in under-capitalized middle-market companies. The firm’s target investment characteristics are: leading market share and brand awareness, entrenched position with customers, low-cost operations relative to industry peers, strong return on net assets, experienced management team with meaningful equity ownership and a focus on growth, demonstrated ability to withstand economic downturns and strong EBITDA to free cash flow conversion. The firm provides financing for leveraged control buyouts, growth equity, rescue/de-leveraging capital and distressed buyouts/discounted debt accumulation capital requirements. The firm’s investment size ranges from $25 to $75 million in businesses predominately located or operating in Greater China (mainland China, Hong Kong, Macau, and Taiwan).

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