ARC-backed Rifle Shot Oil acquires Redwater energy assets
Rifle Shot Oil Corp, a portfolio company of Canadian private equity firm ARC Financial Corp, has acquired energy assets in the Redwater area of Alberta. The assets include 550 barrels-of-oil-equivalent-per-day of high working interest, operated, low decline, high netback oil production and associated infrastructure. The seller in the deal and financial terms were not disclosed. Calgary-based Rifle Shot is focused on acquiring conventional oil reservoirs and applying the latest development technologies to increase production and oil recovery. It received initial financing from ARC Financial in January.
16 October 2015•2 mins read
