NGP-backed Petrus sells oil and gas interests to Rising Star
Petrus Resources Ltd (TSX: PRQ) has sold its oil and natural gas interests in the Peace River region of Alberta to Rising Star Resources Ltd for about $30 million. Rising Star previously announced the deal, but did not identify the seller. Petrus said the asset disposition will reduce its overall indebtedness, lower per-unit operating costs, and reduce future liabilities. The Calgary-based company, which earlier this year went public via a reverse takeover, is a portfolio investment of U.S. energy private equity firm NGP Energy Capital. Rising Star is backed by Canadian investors Lex Capital and 32 Degrees Capital.
12 July 2016•7 mins read
