Blue Water Energy has agreed to lead a $300 million investment in Mime Petroleum, an Oslo-based energy company focused on acquiring assets on the Norwegian continental shelf for drilling and other forms of exploration. As part of the deal, Blue Water will acquire a majority stake in Mime alongside the company’s management team.
Global PE investment in the energy sector has lagged of late, with activity decreasing from 135 PE-backed transactions in 2Q 2016 to 77 such deals in 1Q 2017, according to the PitchBook Platform. This quarter is off to a slow start as well, with just 26 PE-backed energy deals completed so far.
Here’s a look at the nine most active PE firms since the start of 2015, along with their investment counts: