CALGARY, June 30, 2017 /CNW/ - Canbriam Energy ("Canbriam") has completed a US$74 million (approximately C$100 million) investment from its existing private equity sponsors which include Warburg Pincus, ARC Financial, Ontario Teachers' Pension Plan, BlackRock and State Street (formerly GE Capital). The investment was funded on a pro rata basis with existing private equity shareholders and management.
"This planned equity investment will help fund the infrastructure additions required for continued profitable growth of our Altares Montney asset." said Paul Myers, Canbriam President & Chief Executive Officer.
Canbriam is focused on generating full cycle returns from its Montney asset in all commodity price cycles through ownership of all processing and water handling infrastructure, maintaining a low operating cost structure and through proactive risk management that includes hedging commodity price exposure.
Canbriam Energy Inc. is a private intermediate exploration and production Company with a focus on liquids rich natural gas. Its principal producing properties and acreage positions are in the Altares Montney of Northeast British Columbia. The Company was founded in 2007 and is headquartered in Calgary, Alberta with an office in Fort St. John, British Columbia.
This news release contains forward-looking statements within the meaning of securities legislation. All statements, other than historical facts, that address activities that Canbriam intends, assumes, plans, expects, believes or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. Forward-looking statements herein relate to business strategy and objectives; development and exploration plans, including the anticipated benefits resulting therefrom and the timing thereof; reserve quantities and the discounted present value of future net cash flows from such reserves; future production levels; facility construction; drillings plans; and the timing of well completions.The forward-looking statements are based on management's current beliefs, based on currently available information, as to the outcome and timing of future events. These forward-looking statements involve certain risks and uncertainties that could cause the results to differ materially from those expected by the management of Canbriam. Canbriam undertakes no obligation to update or revise any forward-looking statements. Any forward-looking statements in this release are expressly qualified by this cautionary statement.
SOURCE Canbriam Energy Inc.
For further information: Investor & Media Contact: Paul Myers, President and Chief Executive Officer, [email protected]; Rob Froese, Chief Financial Officer, [email protected]; Bill Stait, Director, Investor Relations and Corporate M&A, [email protected] , (403) 718-8564