Fueling Energy Exploration, Production and Refining Companies
May 31, 2012
Warburg Pincus has recapitalized Endurance Energy, picking up a majority stake in the exploration and production company. Warburg Pincus has additionally committed up to CAD155 million to support the company's growth. Based in Calgary, Alberta, Endurance focuses on the acquisition and development of natural gas assets in the Western Canadian Sedimentary Basin.
Since the beginning of 2009, PE investors have invested in 172 U.S. or Canadian companies primarily involved in the Energy Exploration, Production and Refining industry, according to the PitchBook Platform. It's no surprise that Texas leads the U.S. states in attracting private equity with a 47% share of the industry's U.S. deal flow. The Lone Star State is followed by Oklahoma and California. North of the border, though, it's Alberta that reigns king, claiming 78% of the Canadian activity.
