Lime Rock Partners invests $300 mln in Calgary's Imaginea Energy
U.S. energy-focused private equity firm Lime Rock Partners has invested $300 million in Canadian oil and gas company Imaginea Energy Corp, reports The Wall Street Journal. The president and CEO of the newly-formed Imaginea is Suzanne West, the report said. West is the former head of Black Shire Energy Inc, which in November 2013 was acquired by Twin Butte Energy Ltd for $358 million, including debt. Lime Rock was also an investor in Black Shire, and with the acquisition's closing took a minority position in Twin Butte, an intermediate oil producer with headquarters in Calgary. The Texas-based PE firm's other Canadian portfolio companies include Laricina Energy Ltd, which Lime Rock has backed alongside the Canada Pension Plan Investment Board.
