Venture • Oil/Gas Exploration

Riverstone Holdings and Carbon Infrastructure Partners Invest In Vesta Energy

On May 17, 2017, private equity firms Riverstone Holdings and Carbon Infrastructure Partners invested in oil/gas exploration company Vesta Energy

Investment Context
  • This is Riverstone Holdings’ 41st and Carbon Infrastructure Partners’ 2nd transaction in the Oil/Gas Exploration sector.
  • This is Riverstone Holdings’ 9th and Carbon Infrastructure Partners’ 2nd transaction in Canada.
  • This is Riverstone Holdings’ 7th and Carbon Infrastructure Partners’ 2nd transaction in Alberta.
Investment Fate
  • Vesta Energy was sold to a strategic buyer in 2024.

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Investment Summary

Date May 17, 2017
Target Vesta Energy
Sector Oil/Gas Exploration
Investor(s) Riverstone Holdings
Carbon Infrastructure Partners
Deal Type Venture
Advisor(s) BMO Capital Markets
Goldman Sachs (Financial)

Target Company

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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Investors Overview 2

Investor

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 Context for Investor #
Overall 102 of 106
Sector: Oil/Gas Exploration 41 of 42
Type: Venture 2 of 3
State: Alberta 7 of 7
Country: Canada 9 of 10
Year: 2017 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-10 Northern Blizzard Resources

Calgary, Alberta, Canada

Northern Blizzard Resources is engaged in the exploration for and the acquisition, development and production of petroleum and natural gas reserves in western Canada. Northern Blizzard Resources was founded in 2009 and is based in Calgary, Alberta.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-21 Hudson Products

Beasley, Texas, United States

Hudson Products Corp. is a provider of heat transfer solutions firms providing air-cooled heat exchangers and axial-flow fans to some of the largest processors in the petroleum, natural gas, power generation, petrochemical and chemical industries.

Sell $410M
Investor
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 Context for Investor #
Overall 2 of 2
Sector: Oil/Gas Exploration 2 of 2
Type: Venture 1 of 1
State: Alberta 2 of 2
Country: Canada 2 of 2
Year: 2017 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-09 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.

Buy -
FOLLOWING 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 -