M&A Deal Summary

Pine Brook Partners and Comet Ridge Acquire Comet Ridge Resources

On July 26, 2008, private equity firm Pine Brook Partners and Comet Ridge acquired oil/gas exploration company Comet Ridge Resources

Acquisition Highlights
  • This is Pine Brook Partners’ 5th and Comet Ridge’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Pine Brook Partners’ 7th and Comet Ridge’s 1st transaction in the United States.
  • This is Pine Brook Partners’ 1st and Comet Ridge’s 1st transaction in Colorado.

M&A Deal Summary

Date 2008-07-26
Target Comet Ridge Resources
Sector Oil/Gas Exploration
Buyer(s) Pine Brook Partners
Comet Ridge
Deal Type Joint Venture

Target

Comet Ridge Resources

Denver, Colorado, United States
Comet Ridge Resources LLC is an oil and gas company.

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Buyer(S) 2

Buyer

Pine Brook Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 6.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Pine Brook Road Partners is a private equity group focused on growth capital investments in the energy and financial services sectors. Specific areas of interest within the energy sector include exploration, oilfield services, transportation/storage, power generation/distribution/transmission, and biofuel/renewable resources. Specific areas of interest within financial services include insurance, banks, asset management, specialty finance, and servicing/distribution/origination. Pine Brook generally acts as the lead/control investor in newly-formed or established businesses. The Firm has a special interest in 'underappreciated or overlooked' opportunities. Pine Brook Road Partners was formed in 2006 and is based in New York City.


DEAL STATS #
Overall 10 of 42
Sector: Oil/Gas Exploration M&A 5 of 20
Type: Joint Venture M&A Deals 1 of 1
State: Colorado M&A 1 of 2
Country: United States M&A 7 of 30
Year: 2008 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-08 Narragansett Bay Insurance Co.

Pawtucket, Rhode Island, United States

Narragansett Bay Insurance Co. is an underwriter of homeowners insurance products and services. It offers specialty insurance services and products to homeowners through an extensive network of independent agents along the Eastern Seaboard and actively seeks to insure coastal homeowners. Narragansett Bay Insurance was founded in 1848 and is based in Pawtucket, Rhode Island.

Buy $200M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-01 Essent

Hamilton, Bermuda

Essent is a holding company that serves the housing finance industry by offering mortgage insurance, reinsurance and risk management products to mortgage lenders and investors to support homeownership. Essent was founded in 2008 and is based in Hamilton, Bermuda.

Buy -
Buyer

Comet Ridge

Brisbane, Australia

Category Company
Founded 2003
Sector Oil/Gas Exploration
Revenue 4M AUD (2024)
DESCRIPTION

Comet Ridge is an energy company focused on Coal Seam Gas (CSG) exploration and appraisal. Comet Ridge was founded in 2003 and is based in Brisbane, Australia.


DEAL STATS #
Overall 1 of 1
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Joint Venture M&A Deals 1 of 1
State: Colorado M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2008 M&A 1 of 1