Skip to content
The chief executive of private equity firm Waterous Energy Fund and chair of Strathcona Resources says he plans to begin marketing soon for a new fund that would invest all its capital in a single oil and gas company that will pursue assets or outright acquisitions from other producers. The firm says it has already received indications of investor interest covering about 80 per cent of its US$1 billion fundraising target. (The Wall Street Journal)
Talking point: Waterous appears set to expand on the aggressive playbook he first deployed with Strathcona Resources—which has grown into one of Canada’s largest oil companies through at least 10 significant acquisitions—and continued with Greenfire Resources, which acquired private oilsands firm Connacher Oil and Gas for $1.3 billion in August. Waterous Energy Fund holds controlling stakes in both companies. According to The Wall Street Journal, the new fund would establish a third acquisition-focused Canadian energy company targeting businesses in regions where Strathcona and Greenfire aren’t operating.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
Tech firms want AI models to create better versions of themselves
Briefing
Lightspeed cuts 250 jobs through layoffs and attrition
Oil tycoon Adam Waterous aims to build new Canadian energy player with US$1B fund
Data centre infrastructure firms 3C and Datalec merge, plan Calgary expansion
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
