Private equity: News
Avista invests $50m in Celtique Energie Limited's natural resource development 07/08/2006
Author: Lianna Brinded
Avista Capital Partners, an American private equity firm which invests in growth orientated energy, healthcare and media companies, has added a $50 million investment in Celtique Energie Limited to its investment portfolio.
The investment in the London based company, which aims to develop prospects for oil and natural gas in onshore basins in Europe and Africa, will used to fund exploration and development in this sector. Its strategy is to seek, evaluate and develop hubs of natural resource energy, which can later be developed for drilling prospects.
Celtique, formed by a team of former geological, geophysical and exploration managers, David Williams, Geoffrey Davies and Christopher Pullan, is expected to pool Avista's investment to fund evaluation projects, particularly in France, Switzerland and Niger, along with application for additional licenses throughout Europe and Africa.
Steve Webster, Co-Managing Partner of Avista Capital, said, "Our investment in Celtique is an exciting opportunity to capitalize on the increasing worldwide demand for ready to drill exploration prospects."
Related Links
Get some sunshine in your portfolio!
According to some pundits, 2004 may well be remembered as the watershed year for solar energy.
Lime Rock closes fourth fund to target energy sector
Lime Rock, a private equity firm focusing on the energy sector, has announced the first and final closing of its fourth Lime Rock Partners fund, Lime Rock Partners IV, L.P., with $750 million in investor capital commitments.
