Investment Summary

Riverstone Holdings and Carbon Infrastructure Partners Exits Vesta Energy

On December 4, 2024, Parallax Energy invested in oil/gas exploration company Vesta Energy from Riverstone Holdings and Carbon Infrastructure Partners

Investment Highlights
  • This is Parallax Energy’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Parallax Energy’s 1st transaction in Canada.
  • This is Parallax Energy’s 1st transaction in Alberta.

Investment Summary

Date 2024-12-04
Target Vesta Energy
Sector Oil/Gas Exploration
Investor(s) Parallax Energy
Sellers(s) Riverstone Holdings
Carbon Infrastructure Partners
Deal Type Add-on Acquisition

Target

Vesta Energy

Calgary, Alberta, Canada
Vesta Energy is a private junior oil and gas company with a focus on drilling light oil and liquids-rich prospects from the Mannville Group in central Alberta. Vesta Energy is based in Calgary, Alberta.

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Investor(S) 1

Investor

Parallax Energy

Calgary, Alberta, Canada

Category Company
Sector Oil/Gas Exploration
DESCRIPTION

Parallax Energy is an exploration & production company focused on acquiring and developing high-quality assets in the Western Canadian Sedimentary Basin. Parallax Energy is based in Calgary, Alberta.


DEAL STATS #
Overall 1 of 2
Sector: Oil/Gas Exploration M&A 1 of 2
Type: Add-on Acquisition M&A Deals 1 of 1
State: Alberta M&A 1 of 2
Country: Canada M&A 1 of 2
Year: 2024 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-21 Tidewater s Sylvan Lake Gas Processing Facility

Alberta, Canada

Tidewater's Sylvan Lake Gas Processing Facility is a natural gas plant with associated gathering infrastructure. Tidewater's Sylvan Lake Gas Processing Facility is based in Alberta, Canada.

Buy CA$6M

Seller(S) 2

SELLER

Riverstone Holdings

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 40.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Riverstone Holdings is a large specialist asset management and private equity firm focused on opportunities in the energy and power industry. Specific areas of interest include oil & gas exploration, midstream transportation/logistics, electric generation, energy & power service, power infrastructure, and energy & power technology. Riverstone Holdings was formed in 2000 and is based in New York, New York.


DEAL STATS #
Overall 61 of 61
Sector: Oil/Gas Exploration M&A 22 of 22
Type: Add-on Acquisition M&A Deals 32 of 32
State: Alberta M&A 5 of 5
Country: Canada M&A 5 of 5
Year: 2024 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-10 TrailStone

London, United Kingdom

TrailStone is a global renewable energy trading and asset management firm that provides risk management and energy optimization to improve production and financial returns for asset owners. The company offers a fully automated end-to-end renewable power management platform, backed by a successful track record in energy trading. TrailStone was formed in 2013 and is headquartered in London, England.

Sell -
SELLER
DESCRIPTION

Carbon Infrastructure Partners is a private investment group focused on early stage upstream oil and gas opportunities in Western Canada. Carbon Infrastructure Partners looks to back talented management teams in transactions with post-money capitalizations between C$75 and C$250 million. The Firm generally holds minority positions and looks to hold investments for 3 to 5 years. Carbon Infrastructure Partners was formerly known as JOG Capital. Carbon Infrastructure Partners was formed in 2002 and is based in Alberta.


DEAL STATS #
Overall 2 of 2
Sector: Oil/Gas Exploration M&A 2 of 2
Type: Add-on Acquisition M&A Deals 1 of 1
State: Alberta M&A 2 of 2
Country: Canada M&A 2 of 2
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-11 Cequence Energy

Calgary, Alberta, Canada

Cequence Energy is engaged in the exploration for and development of oil and natural gas reserves. The Company’s primary focus is the development of its Simonette asset in the Alberta Deep Basin with other non-core assets in Northeast British Columbia and the Peace River Arch of Alberta. Cequence Energy was founded in 2000 and is based in Calgary, Canada.

Sell -