Crown Capital provides $15 mln loan to help grow Triple Five
Canadian specialty finance firm Crown Capital Partners has provided a $15 million loan to Triple Five Intercontinental Group Ltd, a Calgary-based explorer, developer and producer of petroleum and natural gas. Founded in 2014, Triple Five currently produces about 3,800 barrels of oil equivalent production per day from six Alberta wells, of which about 85 percent is natural gas. The loan's proceeds will be used to refinance a senior debt facility and provide capital to drill more wells, which are expected to grow production. Earlier in 2018, Crown raised an additional $75 million for Crown Capital Partner Funding, increasing its committed capital to $300 million.
4 September 2018•3 mins read
