KKR invests $350 mln in US oil explorer-WSJ

June 9 (Reuters) - U.S. private equity firm Kohlberg Kravis Roberts & Co (KFN.N) invested about $350 million in a privately-held natural gas explorer, East Resources Inc, the Wall Street Journal reported on Tuesday.

Pennsylvania-based East Resources, which is engaged in gas exploration and development in a rock formation stretching from West Virginia to New York, controls about 900,000 acres and has 230 employees, the paper said.

KKR's investment, which is structured as debt convertible into a substantial minority stake, will help the private company to reduce its debt and develop its reserves, the Journal said.

"This investment from KKR allows us to continue our business on a larger scale," East Resources Chief Executive Terrence Pegula told the paper.

Reuters could not immediately reach KKR for comments. (Reporting by Esha Dey in Bangalore; editing by Mike Nesbit)