ARC Financial invests $100 mln in energy startup Huron Resources - report
Canadian energy-focused private equity firm ARC Financial Corp has made an investment in a new oil and gas business, reports The Wall Street Journal. The company, Calgary-based Huron Resources, secured a total of $100 million from the investor, and plans to raise an additional $50 million from other sources, the report said. Huron Resources is being led by Bruce Shultz, who was previously with Calgary's Huron Energy Corp, acquired by Tourmaline Oil Corp (TSX: TOU) for approximately $258 million in 2012. ARC Financial was among the private equity backers of Huron Energy.
5 March 2014•1 min read
