WEF to buy Northern Blizzard from Riverstone, NGP for $244 mln
Waterous Energy Fund (WEF), a private equity fund launched earlier this year by Canadian investment banker Adam Waterous, has agreed to buy Northern Blizzard Resources Inc (TSX: NBZ) for $244 million. The deal will see WEF acquire about 67 percent of the company's issued and outstanding common shares from Riverstone Holdings and NGP Energy Capital Management, both U.S. private equity firms. Riverstone and NGP have backed Northern Blizzard since its founding in 2009 and public listing in 2014. Based in Calgary, Northern Blizzard is a crude oil production and development company. Once closed, the investment will be WEF's second to date.
11 April 2017•4 mins read
