Sabinal Energy, an oil producer backed by Kayne Anderson, is divvying up its assets for a sale of the company that could fetch more than $1 billion, according to people with knowledge of the situation.
The company launched an auction last week with help of an adviser, said the people, who asked not to be identified because the matter is private. Sabinal could be worth as much as $1.5 billion, one of the people said.
