Carlyle's Avenrock Energy to Acquire Parallax Energy in Roughly C$1B Deal

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โดย Seeking Alpha·CA·Read original
Summary · why it matters

Carlyle Group said Monday that its newly formed Canadian company Avenrock Energy agreed to acquire Parallax Energy from Carnelian Energy Capital, establishing a significant new light oil platform in Western Canada. Financial terms were not disclosed, but Reuters reported the total enterprise value of the deal was about C$1B and said Parallax's gross production totals 20K boe per day. Parallax owns and operates a 75% working interest in a portfolio of exploration and production assets in Alberta's East Shale Duvernay, maintaining roughly 300K gross acres and a substantial production base focused predominantly on light oil and natural gas liquids, as well as an extensive owned infrastructure network. The deal is the second in the past year by Carlyle's energy business, which last year bought Kiwetinohk Energy for about C$1.4B.

Impact on stocks 1

Financials▲ · 1 stocks
Carlyle Group Inc
CG
▲ PositiveCapitalrelevance

Carlyle's Avenrock Energy agreed to acquire Parallax Energy in a ~C$1B deal, expanding Carlyle's Western Canada light oil platform.

Off-coverage companies 3

Avenrock EnergyPrivate▲ Positive
Capitalrelevance

Avenrock Energy, Carlyle's newly formed Canadian company, is the acquirer establishing a light oil platform via the Parallax deal.

Carnelian Energy CapitalPrivate▲ Positive
Capitalrelevance

Carnelian Energy Capital is selling Parallax Energy to Avenrock in a ~C$1B transaction.

Parallax EnergyPrivate▲ Positive
Capitalrelevance

Parallax Energy is being acquired by Carlyle's Avenrock Energy in a ~C$1B deal, providing an exit for its owner.

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