Bregal Investments to sell Calgary's Birchill Exploration to PKN Orlen
TriOil Resources Ltd, a Canadian energy company owned by PKN Orlen SA, has agreed to buy Calgary's Birchill Exploration LP, which operates oil and gas fields in the Ferrier-Strachan area of Alberta. The seller is Bregal Investments, the private equity investment arm of European holding company COFRA Holding AG. Financial terms were not disclosed. PKN Orlen said the Birchill acquisition is consistent with its upstream development strategy of diversifying the company's global assets. The Calgary-based TriOil was acquired by PKN Orlen, a Polish petroleum and petrochemical business, in November 2013.
8 May 2014•2 mins read
