NGP-backed Petrus Resources closes $155 mln private placement

Petrus Resources Ltd, a portfolio company of U.S. private equity firm Natural Gas Partners, has closed a private placement offering that generated gross proceeds of around $155 million. Sixty-eight percent of the total offering, representing gross proceeds of $105 million, involved insiders and other investors. The company said it has or will use the funds raised to pay for recent acquisitions of Arriva Energy Inc and Ravenwood Energy Corp. Based in Calgary, Petrus is an oil and gas company focused on property exploitation, acquisitions and risk-managed exploration in Alberta.

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