Primavera Resources closes equity financing with ARC Financial

Calgary oil and gas company Primavera Resources Corp has secured equity financing from ARC Financial Corp, a Canadian energy private equity firm. No financial terms were released. The deal was closed concurrently with the company's acquisition of 18,400 net acres of Montney rights located in the Goose region of northeastern British Columbia. Primavera, which is led by CEO Dan O’Byrne and President Andrew Wiacek, said the partnership with ARC will supports its development of the asset. Earlier this month, STEP Energy Services Inc, an ARC portfolio company, closed its initial public offering in Canada, raising $100 million.

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