Velvet Energy Ltd.
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Velvet Energy Ltd. - overview
Established
2011
Location
Calgary, AB, Canada
Primary Industry
Oil & Gas
About
Based in Calgary, Canada, and founded in 2011, Velvet Energy Ltd. operates as an oil and gas exploration and production company that produces light-oil Montney with operations primarily in Karr, Pouce Coupe, and the Gold Creek areas of northwest Alberta. The company has current production of approximately 30,000 boe per day and a land position of more than 1 million net acres spanning from its core Ellerslie development in the greater Edson area to Montney light oil development at Pouce Coupe and at Karr/Gold Creek and early land capture at Flatrock, British Columbia. The firm received investment from 1901 Partners, Trilantic North America, Warburg Pincus, and Ziff Brothers Investments in 2011, Trilantic North America, Warburg Pincus, and Ziff Brothers Investments in 2015, and from CPP Investments in 2017 and 2018, the company acquired Iron Bridge Resources Inc.
In 2021, Spartan Delta Corp agreed to acquire the company for CAD 743. 3 million. Ken Woolner is the company's President and Chief Executive Officer. The company explores, acquires, develops, and produces natural gas and crude oil.
The firm's operations include technical evaluation, early land capture, exploration, and development of internally generated prospects. The firm's offerings also include drilling, completions, prospecting, and production methods that are used by the company to make economic returns in the oil sector.
Primary Industry
Oil & Gas
Sub Industries
Oil & Gas Exploration and Production
Website
www.velvetenergy.ca
Company Stage
Acquired
Total Amount Raised
Subscriber access only
Velvet Energy Ltd. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Trade Sale | Completed | Velvet Energy Ltd. | - | ||||||||
| Add-on | Completed | Iron Bridge Resources Inc. | - | ||||||||
| Private Debt | Completed | Velvet Energy Ltd. | - | ||||||||
| Growth | Completed | Velvet Energy Ltd. | - | ||||||||
| Trade Sale | Completed | Zeta Creek Gas Plant | - |
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