Carlyle (CG.US) further expands energy business, acquires Parallax for 1 billion Canadian dollars

Zhitong Finance APP has learned that Carlyle Group (CG.US) announced on Monday that its newly established Canadian company, Avenrock Energy, has agreed to acquire Parallax Energy from Carnelian Energy Capital, thereby establishing a significant new light crude oil platform in Western Canada.

The financial terms have not been disclosed, but according to informed sources, the total enterprise value of the deal is about 1 billion Canadian dollars, with Parallax's total production reaching 20 thousand barrels of oil equivalent per day (boe/day).

Parallax owns and operates a 75% working interest in an exploration and production asset portfolio in the East Shale Duvernay region of Alberta, maintaining approximately 300 thousand total acres of land and a large production base focused mainly on light crude oil and natural gas liquids, as well as an extensive network of proprietary infrastructure.

This transaction is the second deal by Carlyle's energy business in the past year, after acquiring Kiwetinohk Energy last year for about 1.4 billion Canadian dollars.