Waterous-backed Strath closes $340 mln buy of energy assets
Calgary-based energy explorer and producer Strath Resources Ltd has closed its acquisition of oil and gas properties and related infrastructure in the Resthaven/Jayar area of Alberta’s Kakwa region. The seller was Paramount Resources Ltd (TSX: POU). The cash-and-stock deal, announced in June, had a total consideration of $340 million. The cash portion, totalling $170 million, was funded by Strath's majority owner, Canadian energy private equity firm Waterous Energy Fund. Last week, Waterous said it closed its inaugural fund, Waterous Energy Fund LP, raising $1.4 billion.
6 July 2018•2 mins read
