ARC and OTPP-backed Aspenleaf buys Kayne Anderson's NEP
Aspenleaf Energy Ltd has acquired NEP Canada ULC, a Calgary-based light oil producer with operations in the Leduc-Woodbend region. Terms weren't disclosed. Aspenleaf, a Calgary-based oil and gas company, said the deal combines two central Alberta assets that are geographically and geologically complementary, creating an "opportunity rich, high netback, light oil based entity." Aspenleaf funded most of the acquisition with new and previously committed equity from existing investors. The company is backed by Canadian energy private equity firm ARC Financial Corp and Ontario Teachers’ Pension Plan (OTPP). NEP Canada has been backed since 2010 by U.S. energy private equity firm Kayne Anderson Energy Funds.
31 July 2018•3 mins read
