Natural Gas Partners commits $400 mln to launch of Prairie Storm Energy
Prairie Storm Energy Corp has received an equity financing commitment of up to $400 million from U.S. private equity firm Natural Gas Partners (NGP). The funds, which will come from the recently closed NGP Natural Resources XI LP, will support the launch of the Calgary-based company. Led by president and CEO Hugh Ross, Prairie Storm Energy is focused on acquiring, developing and exploiting large-scale oil and gas assets in regions of Western Canada. Its board of directors will include NGP senior managing directors Craig Glick and Christopher Ray, as well as NGP managing director Brian Minnehan.
5 February 2015•3 mins read
