CALGARY, Dec. 3, 2013 /CNW/ – Black Swan Energy Ltd. today announced that it has completed a $150 million increase in the equity capital commitments from its existing shareholders which include Warburg Pincus, Canada Pension Plan Investment Board and KERN Partners. This brings the total capital commitment from its shareholders to $501 million, with the new capital being used to fully fund the appraisal and early development of its current properties.
Black Swan is focused on its growing base of liquids-rich production in the Montney play in British Columbia and the Duvernay play in Alberta. The additional capital will support further drilling in both plays.
ABOUT BLACK SWAN
Black Swan Energy Ltd. is backed by leading private equity investors and is focused on unconventional resource exploration and development. The Company is headquartered in Calgary, Alberta, Canada and was founded in 2010.
SOURCE Black Swan Energy Ltd.
For further information:
David Maddison
President and Chief Executive Officer
Michael Wilhelm
VP Finance and Chief Financial Officer
Black Swan Energy Ltd.
Telephone: (403) 930-4400
Email: info@blackswanenergy.com
Website: www.blackswanenergy.com