[Context: On June 30, Calgary-based Canbriam Energy announced a US$ 74m equity commitment from Warburg Pincus, ARC Financial, Ontario Teachers’ Pension Plan, BlackRock and State Street (formerly GE Capital). Further details and related links are below.]
Canbriam Energy Announces C$100 Million Private Equity Investment
CALGARY, June 30, 2017 /CNW/ – Canbriam Energy (“Canbriam”) has completed a US$74 million (approximately C$100 million) investment from its existing private equity sponsors which include Warburg Pincus, ARC Financial, Ontario Teachers’ Pension Plan, BlackRock and State Street (formerly GE Capital). The investment was funded on a pro rata basis with existing private equity shareholders and management.
“This planned equity investment will help fund the infrastructure additions required for continued profitable growth of our Altares Montney asset.” said Paul Myers, Canbriam President & Chief Executive Officer.
Canbriam is focused on generating full cycle returns from its Montney asset in all commodity price cycles through ownership of all processing and water handling infrastructure, maintaining a low operating cost structure and through proactive risk management that includes hedging commodity price exposure.
Canbriam Energy Inc. is a private intermediate exploration and production Company with a focus on liquids rich natural gas. Its principal producing properties and acreage positions are in the Altares Montney of Northeast British Columbia. The Company was founded in 2007 and is headquartered in Calgary, Alberta with an office in Fort St. John, British Columbia.