Azimuth Capital leads $39 mln financing of TimberRock Energy
Oil and gas company TimberRock Energy Corp has closed a $39 million financing led by Azimuth Capital Management, a Canadian energy private equity firm. Azimuth was joined in the deal by co-investors and U.S. energy asset manager Tudor Pickering Holt & Co Asset Management. Calgary-based TimberRock said the funds raised will be used to continue developing its Glauconite drilling program at Garrington, Alberta, where it has land tied up under farm-in agreements. Azimuth, formerly known as KERN Partners, has backed TimberRock since 2012. The company is also a portfolio investment of Edgestone Capital Partners' energy fund.
6 March 2017•1 min read
