KKR Invests in Canadian Oil and Gas Company Westbrick
November 21, 2012
KKR has closed a CAD75 million equity investment in Westbrick Energy, a Calgary-based oil and gas company focusing on conventional plays in Canada. In addition, the private equity firm has committed CAD175 million of equity capital for follow-on investments, bringing the potential total deal to CAD250 million. Westbrick's current operations are centered in the Pembina area of Alberta. The company looks to grow production through low-risk development and exploitation within its strategic footprint. Two members of KKR's Energy & Infrastructure business joined Westbrick's Board upon completion of the deal.