AltaGas Ltd. is a diversified energy infrastructure company based in Calgary, Canada, operating primarily in North America. The company is structured into three main segments: Utilities, Midstream, and Power. The Utilities segment manages regulated natural gas distribution utilities across several states, serving around 1.7 million customers, and also provides interstate natural gas transportation and storage services. The Midstream segment focuses on natural gas gathering and processing, including natural gas liquids extraction and transportation, with significant operations in the Marcellus/Utica gas formation. This segment serves a diverse range of residential, commercial, and industrial clients. Lastly, the Power segment is involved in electricity generation and marketing, providing energy storage and ancillary services with a total operational capacity of 710 megawatts from various sources, including natural gas and solar. AltaGas aims to leverage its strategic assets to meet the growing demand for natural gas and power in both Canada and the United States.
Lucero Energy is an oil company specializing in buying, developing, and producing high-quality oil-weighted assets.
Superior Plus Corp. is a Canadian company engaged in the energy distribution and specialty chemicals sectors, with operations in Canada, the United States, and Chile. The company operates through three primary segments: U.S. Propane, Canadian Propane, and Wholesale Propane, with the majority of its revenue derived from the U.S. Propane segment, which distributes propane gas and liquid fuels across the Eastern U.S., Midwest, and California. The Canadian Propane segment focuses on retail operations throughout Canada. In addition, Superior Plus supplies specialty chemicals, including sodium chlorate for the pulp and paper industries, as well as potassium and chlor-alkali products. Founded in 1996 and headquartered in Toronto, Superior Plus aims to deliver long-term stable dividends and premium returns to its shareholders through value-based growth in its core assets.
Guerrero Ventures Inc. is a Canadian mining company based in Vancouver, British Columbia, focused on the exploration and development of precious and base metal resources. The company seeks to enhance shareholder value by acquiring, exploring, and developing mineral properties while adhering to best practices in environmental stewardship and stakeholder engagement. Guerrero Ventures is actively exploring the Biricu Project, located in the Guerrero Gold Belt in Mexico, adjacent to significant mining operations. The Biricu Project spans 90,000 acres and is undergoing modern exploration, having completed a maiden diamond drill program of 5,300 metres in December 2014. Plans for a second phase of diamond drilling are anticipated to commence in the latter half of 2015.
Archaea Energy is an emerging leader in developing renewable natural gas (“RNG”) which is a sustainable decarbonizing solution for high-carbon emission processes and industries that are impossible or inefficient to electrify.
Nova Royalty Corp. is a royalty company based in Vancouver, Canada, that specializes in acquiring royalties on copper and nickel deposits. Established in 2018, the company targets prominent copper and nickel projects that are essential for the global energy transition. Nova Royalty purchases royalties from a diverse range of sources, including vendors, private individuals, prospectors, mining companies, and government agencies. By employing a royalty model, the company makes a single upfront payment to acquire the rights to a portion of the mine's revenue, allowing it to benefit from the entire revenue stream without incurring ongoing operating costs or additional capital commitments. Its portfolio includes significant projects such as NuevaUnion Copper-Gold, Taca Taca, Copper World Complex, Aranzazu, Josemaria, and West Wall, among others.
Orezone Gold Corporation engages in the acquisition, exploration, and development of resource properties. Its flagship property is the 90%-owned Bomboré gold project located in Burkina Faso, West Africa. The company was incorporated in 2008 and is headquartered in Vancouver, Canada.
AltaGas Ltd. is a diversified energy infrastructure company based in Calgary, Canada, operating primarily in North America. The company is structured into three main segments: Utilities, Midstream, and Power. The Utilities segment manages regulated natural gas distribution utilities across several states, serving around 1.7 million customers, and also provides interstate natural gas transportation and storage services. The Midstream segment focuses on natural gas gathering and processing, including natural gas liquids extraction and transportation, with significant operations in the Marcellus/Utica gas formation. This segment serves a diverse range of residential, commercial, and industrial clients. Lastly, the Power segment is involved in electricity generation and marketing, providing energy storage and ancillary services with a total operational capacity of 710 megawatts from various sources, including natural gas and solar. AltaGas aims to leverage its strategic assets to meet the growing demand for natural gas and power in both Canada and the United States.
Opsens Inc. specializes in the development, manufacture, installation, and sale of fiber optic sensors, catering to various sectors including interventional cardiology, oil and gas, and industrial applications. The company operates through two primary segments: Medical and Industrial. The Medical segment focuses on physiological measurements such as fractional flow reserve (FFR) and provides miniature optical sensors for pressure and temperature measurement, essential for coronary artery stenosis diagnosis. It also licenses its optical sensor technology. The Industrial segment creates fiber optic sensing solutions applicable in diverse fields such as life sciences, energy, defense, and civil engineering. Notable products include OptoWire, an advanced optical pressure guidewire for coronary artery disease, and a range of fiber optic sensors for measuring temperature, pressure, strain, and displacement. Opsens distributes its products through a direct sales force and partnerships with distributors in the United States, Japan, Canada, and other international markets. Headquartered in Québec, Canada, Opsens is recognized for its high-accuracy sensors that are particularly beneficial in clinical environments.
K92 Mining Inc. is engaged in the exploration, development, and mining of mineral deposits in Papua New Guinea, focusing primarily on the Kainantu Gold Mine. This property, covering approximately 410 square kilometers in the Eastern Highlands province, was previously mined by Highlands Pacific and Barrick Gold between 2006 and 2009. K92 Mining aims to advance the Kainantu project towards production while expanding known mineralization areas and exploring high-priority targets. The company is headquartered in Vancouver, Canada, and is led by a team of industry professionals with extensive expertise in mining, production startups, and mineral exploration. K92 Mining produces gold, copper, and silver, contributing to the region's mining landscape.
Trinidad Drilling Ltd. is a Canadian company that specializes in providing drilling services to the oil and natural gas industry. Established in 1996 and headquartered in Calgary, Trinidad designs, builds, and operates modern drilling rigs primarily for complex wells in Canada, the United States, and internationally. The company operates a fleet of 70 rigs in Canada and 69 rigs in the United States and other international markets. Trinidad's offerings include land drilling services, as well as rig technology and labor services. Additionally, the company is involved in construction and insurance activities. Its operations are divided into Canadian and US/international segments, with a significant portion of revenue generated from oilfield services. Trinidad Drilling is committed to delivering reliable and expertly designed drilling solutions, supported by well-trained personnel.
Tidewater Midstream and Infrastructure Ltd. is a Canadian diversified midstream and infrastructure company operating primarily in North America. The company focuses on natural gas, natural gas liquids (NGLs), and crude oil, with significant operations within the Western Canadian Sedimentary Basin, particularly in areas like Montney, Edmonton, and the Deep Basin. Tidewater engages in various activities, including gas gathering, processing, transportation, and the marketing and extraction of NGLs and crude oil. Additionally, the company sells refined petroleum products such as gasoline and low-sulfur diesel, retails propane, and operates railcar rentals, export terminals, and storage facilities. Incorporated in 2015 and headquartered in Calgary, Tidewater aims to enhance service efficiency through its vertically integrated value chain and strategic infrastructure development.
InPlay Oil Corp is an oil development and production company based in Calgary, Alberta. It is engaged in the acquisition, exploration, and development of petroleum and natural gas properties, and the production and sale of crude oil, natural gas, and natural gas liquids. Its petroleum and natural gas operations are located in the Province of Alberta. The company's operations are focused on a concentrated light oil asset base located in West Central Alberta. It derives revenue from selling its production of crude oil, natural gas and NGLs under variable price contracts.
Tamarack Valley Energy is an oil and gas company involved in the identification, evaluation and operation of resource plays in the Western Canadian sedimentary basin. The Company uses a rigorous, proven modeling process to carefully manage risk and identify growth opportunities. Tamarack's diversified suite of oil-focused assets provides exposure to the high impact Cardium light oil resource plays in Lochend, Garrington/Harmattan and Buck Lake in Alberta, low cost Viking light oil resource plays in Redwater, Foley Lake and Westlock in Alberta and highly economic heavy oil opportunities southeast of Lloydminster in Saskatchewan.
Dundee Precious Metals Inc. is a Canadian based, international gold mining company engaged in the acquisition, exploration, development, mining and processing of precious metals.
SEMAFO’s corporate vision – establish enduring relationships with the countries in which we operate and through our experience, expertise and financial acumen, partner to responsibly develop natural resources – showcases the Canadian company’s association of sustainable development with geological and mining development. The spirit of this mission forms a thread that runs throughout our history. In 1993, Benoit La Salle, founder of SEMAFO, was on a philanthropic mission in Africa when the authorities in Burkina Faso proposed that he return in order to help realise the untapped mineral potential in the country. SEMAFO, which results from the amalgamation of three small exploration companies, was incorporated two years later in order to launch the mining sector in Burkina Faso. The name SEMAFO is an acronym for Société d’Exploration Minière en Afrique de l’Ouest, the French version of our former name “West Africa Mining Exploration Corporation”. From the outset, the Corporation’s modus operandi was closely aligned with the founder’s humanitarian vision of West Africa as evidenced by an early corporate commitment: “We are committed to conducting our business activities in a manner that promotes sustainable development and an improvement in the social welfare of the regions in which we operate.” This dual mission remains at the core of our business and took deeper roots through the 2008 establishment of SEMAFO Foundation, a non-profit, stand-alone charitable organisation that supports communities and offers an improved quality of life to regions where SEMAFO is present. Through its three-pronged approach – education, healthcare and income-generating - the Foundation aims to help local communities reach their greatest potential. By guiding communities in income-generating activities, the Foundation ensures that stakeholders will continue to benefit from our legacy even when the company’s mining activities will have ceased. In a history that spans some twenty years, SEMAFO has successfully commissioned three gold mines in several jurisdictions in West Africa and produced more than two million ounces in gold. Our in-house development, construction, operational, administrative and government relations teams, all of whom are fluent French speakers, draw from more than a decade of operating experience in West Africa. Our success has been governed by the values we practice: respect and integrity, excellence, know-how and teamwork. Our portfolio has evolved and simplified since 1995 when we held 19 exploration permits in four West African countries. In 1995, Les Minéraux SGV S.A., a company in which we were a 50% equity partner, purchased a two-year prospecting permit for the Jean Gobélé project in Guinea. With the financial support and technical expertise of our then major shareholder Managem S.A., and in collaboration with our co-licensee Corporation Minière Afcan, the project was advanced from exploration, site development and mine construction until its first gold pour on April 25, 2002. The name of the mine was subsequently changed to the Kiniero gold mine, which we operated for eleven years. In 2013, the mine was deemed a non-core asset and placed in care and maintenance until its 2014 divestiture to a local mining company. In 1999, we entered Niger by setting up la Société des Mines du Liptako S.A. (SML). Through the support of Managem, we advanced the Libiri and Samira Hill gold deposits through development, mine construction and to commercial production in October 2004. We operated the Samira Hill Mine for nine years, improving plant availability and capacity, and enabling the mine to produce over 540,000 ounces of gold before its 2013 disposal to SOPAMIN. Mana, which lies at the heart of SEMAFO’s history, was a grassroots discovery that has now evolved into the third-largest gold mine in Burkina Faso. We advanced this project from satellite image interpretation through detailed exploration, site development and mine construction to its first gold pour in March 2008. Since then, we have expanded the processing plant four times. Since November 1999, we have drilled more than 1.2 million metres on the extensive Mana property that boasts a total surface area of over 2,675 square kilometres on the Houndé Gold Belt. In 2014, the Corporation marked another milestone when it took the high-grade Siou deposit from blind discovery to production in a mere 18 months, thereby boosting Mana production and reserve grade. Our history shows we have been a pioneer in many aspects in West Africa. The original gold mine operator in Niger, SEMAFO also spearheaded foreign direct investment in the gold mining sector in Burkina Faso, and remains the only mining company in Burkina Faso to establish a non-profit foundation and pledge up to 2% of its net profits to support its efforts in the community. Following its 2015 acquisition of 13 Orbis permits, SEMAFO’s property portfolio reached 7,600 square kilometers, comprising one of the most extensive land positions in Burkina Faso. Our strategy of quality ounces, cost control and optimisation programs, and disciplined exploration at Mana took us into a new phase of development in 2014, allowing us to generate free cash flow even in a soft gold environment. Driven by the performance of our recently ramped-up high-grade Siou and Fofina deposits, we produced 234,300 ounces at a total cash cost of $649 per ounce in 2014, thus meeting production guidance for the seventh consecutive year. Although we take pride in our solid financial, operational and community report cards, we remain focused on future expansion of our heritage. Our commitment to building an ethical, reputable, world-class gold company through a combination of exploration, development and acquisition remains undimmed.
Secure Energy Services offers safe, innovative, and environmentally responsible fluids and solids solutions for the oil and gas sector. The company operates through three main segments: Environmental Waste Management, Energy Infrastructure, and Oilfield Services. Its Environmental Waste Management segment is the primary revenue generator, featuring a network of waste processing facilities, produced water pipelines, industrial landfills, waste transfer operations, and metal recycling services. The Energy Infrastructure segment includes crude oil gathering pipelines and terminals that facilitate the processing, storage, shipping, and marketing of crude oil. Additionally, Secure Energy Services provides water treatment and disposal services to support upstream oil and natural gas companies, ensuring efficient and responsible management of environmental resources.
Tidewater Midstream and Infrastructure Ltd. is a Canadian diversified midstream and infrastructure company operating primarily in North America. The company focuses on natural gas, natural gas liquids (NGLs), and crude oil, with significant operations within the Western Canadian Sedimentary Basin, particularly in areas like Montney, Edmonton, and the Deep Basin. Tidewater engages in various activities, including gas gathering, processing, transportation, and the marketing and extraction of NGLs and crude oil. Additionally, the company sells refined petroleum products such as gasoline and low-sulfur diesel, retails propane, and operates railcar rentals, export terminals, and storage facilities. Incorporated in 2015 and headquartered in Calgary, Tidewater aims to enhance service efficiency through its vertically integrated value chain and strategic infrastructure development.
Tamarack Valley Energy is an oil and gas company involved in the identification, evaluation and operation of resource plays in the Western Canadian sedimentary basin. The Company uses a rigorous, proven modeling process to carefully manage risk and identify growth opportunities. Tamarack's diversified suite of oil-focused assets provides exposure to the high impact Cardium light oil resource plays in Lochend, Garrington/Harmattan and Buck Lake in Alberta, low cost Viking light oil resource plays in Redwater, Foley Lake and Westlock in Alberta and highly economic heavy oil opportunities southeast of Lloydminster in Saskatchewan.
Raging River Exploration Inc. is engaged in the exploration, development, and production of crude oil and natural gas properties primarily in Western Canada. The company focuses on the Viking light oil fairway, particularly in the greater Dodsland area of southwest Saskatchewan and the Esther area of southeastern Alberta. Raging River holds a significant net undeveloped land base of 591,363 acres. Established in 2011 and headquartered in Calgary, Alberta, Raging River Exploration operates as a subsidiary of Baytex Energy Corp., with its activities centered on the acquisition and development of oil and gas resources, especially in the Kindersley region of Saskatchewan.
Secure Energy Services offers safe, innovative, and environmentally responsible fluids and solids solutions for the oil and gas sector. The company operates through three main segments: Environmental Waste Management, Energy Infrastructure, and Oilfield Services. Its Environmental Waste Management segment is the primary revenue generator, featuring a network of waste processing facilities, produced water pipelines, industrial landfills, waste transfer operations, and metal recycling services. The Energy Infrastructure segment includes crude oil gathering pipelines and terminals that facilitate the processing, storage, shipping, and marketing of crude oil. Additionally, Secure Energy Services provides water treatment and disposal services to support upstream oil and natural gas companies, ensuring efficient and responsible management of environmental resources.
SEMAFO’s corporate vision – establish enduring relationships with the countries in which we operate and through our experience, expertise and financial acumen, partner to responsibly develop natural resources – showcases the Canadian company’s association of sustainable development with geological and mining development. The spirit of this mission forms a thread that runs throughout our history. In 1993, Benoit La Salle, founder of SEMAFO, was on a philanthropic mission in Africa when the authorities in Burkina Faso proposed that he return in order to help realise the untapped mineral potential in the country. SEMAFO, which results from the amalgamation of three small exploration companies, was incorporated two years later in order to launch the mining sector in Burkina Faso. The name SEMAFO is an acronym for Société d’Exploration Minière en Afrique de l’Ouest, the French version of our former name “West Africa Mining Exploration Corporation”. From the outset, the Corporation’s modus operandi was closely aligned with the founder’s humanitarian vision of West Africa as evidenced by an early corporate commitment: “We are committed to conducting our business activities in a manner that promotes sustainable development and an improvement in the social welfare of the regions in which we operate.” This dual mission remains at the core of our business and took deeper roots through the 2008 establishment of SEMAFO Foundation, a non-profit, stand-alone charitable organisation that supports communities and offers an improved quality of life to regions where SEMAFO is present. Through its three-pronged approach – education, healthcare and income-generating - the Foundation aims to help local communities reach their greatest potential. By guiding communities in income-generating activities, the Foundation ensures that stakeholders will continue to benefit from our legacy even when the company’s mining activities will have ceased. In a history that spans some twenty years, SEMAFO has successfully commissioned three gold mines in several jurisdictions in West Africa and produced more than two million ounces in gold. Our in-house development, construction, operational, administrative and government relations teams, all of whom are fluent French speakers, draw from more than a decade of operating experience in West Africa. Our success has been governed by the values we practice: respect and integrity, excellence, know-how and teamwork. Our portfolio has evolved and simplified since 1995 when we held 19 exploration permits in four West African countries. In 1995, Les Minéraux SGV S.A., a company in which we were a 50% equity partner, purchased a two-year prospecting permit for the Jean Gobélé project in Guinea. With the financial support and technical expertise of our then major shareholder Managem S.A., and in collaboration with our co-licensee Corporation Minière Afcan, the project was advanced from exploration, site development and mine construction until its first gold pour on April 25, 2002. The name of the mine was subsequently changed to the Kiniero gold mine, which we operated for eleven years. In 2013, the mine was deemed a non-core asset and placed in care and maintenance until its 2014 divestiture to a local mining company. In 1999, we entered Niger by setting up la Société des Mines du Liptako S.A. (SML). Through the support of Managem, we advanced the Libiri and Samira Hill gold deposits through development, mine construction and to commercial production in October 2004. We operated the Samira Hill Mine for nine years, improving plant availability and capacity, and enabling the mine to produce over 540,000 ounces of gold before its 2013 disposal to SOPAMIN. Mana, which lies at the heart of SEMAFO’s history, was a grassroots discovery that has now evolved into the third-largest gold mine in Burkina Faso. We advanced this project from satellite image interpretation through detailed exploration, site development and mine construction to its first gold pour in March 2008. Since then, we have expanded the processing plant four times. Since November 1999, we have drilled more than 1.2 million metres on the extensive Mana property that boasts a total surface area of over 2,675 square kilometres on the Houndé Gold Belt. In 2014, the Corporation marked another milestone when it took the high-grade Siou deposit from blind discovery to production in a mere 18 months, thereby boosting Mana production and reserve grade. Our history shows we have been a pioneer in many aspects in West Africa. The original gold mine operator in Niger, SEMAFO also spearheaded foreign direct investment in the gold mining sector in Burkina Faso, and remains the only mining company in Burkina Faso to establish a non-profit foundation and pledge up to 2% of its net profits to support its efforts in the community. Following its 2015 acquisition of 13 Orbis permits, SEMAFO’s property portfolio reached 7,600 square kilometers, comprising one of the most extensive land positions in Burkina Faso. Our strategy of quality ounces, cost control and optimisation programs, and disciplined exploration at Mana took us into a new phase of development in 2014, allowing us to generate free cash flow even in a soft gold environment. Driven by the performance of our recently ramped-up high-grade Siou and Fofina deposits, we produced 234,300 ounces at a total cash cost of $649 per ounce in 2014, thus meeting production guidance for the seventh consecutive year. Although we take pride in our solid financial, operational and community report cards, we remain focused on future expansion of our heritage. Our commitment to building an ethical, reputable, world-class gold company through a combination of exploration, development and acquisition remains undimmed.
Osisko Gold Royalties is an intermediate precious metal royalty company based in Montreal, Quebec. It specializes in acquiring and managing a diverse portfolio of over 130 royalties, streams, and precious metal offtakes, primarily focused on North America. The company's most significant asset is a 5% net smelter return royalty on the Canadian Malartic Mine, the largest gold mine in Canada. In addition to its royalty interests, Osisko maintains stakes in several publicly traded resource companies, including Barkerville Gold Mines and Osisko Mining. The company operates under two main segments: managing precious metal royalties and the exploration and development of mining projects. Osisko's income is predominantly generated from North America, with ongoing exploration efforts in various locations, including the Hammond Reef Project in Ontario and other ventures in Mexico.
Bellatrix Exploration Ltd is a Canadian oil and gas company engaged in the exploration, acquisition, development, and production of oil and natural gas reserves in Alberta, British Columbia, and Saskatchewan. The company focuses on two primary resource plays: the Cardium and the Notikewin/Falher intervals, both located in the Western Canada Sedimentary Basin. The Notikewin/Falher play is characterized by its abundant, liquids-rich natural gas, which offers strong economic returns, while the Cardium play presents significant potential for reserve and production growth. Through these strategic focuses, Bellatrix aims to enhance its operational efficiency and deliver long-term value to its stakeholders.
Strategic Oil & Gas is an emerging junior oil and gas company that explores and develops oil and gas properties. The primary business is upstream oil and gas exploitation and development. Their sub-surface technical capabilities lead the industry in geology, geophysics, engineering, and petrophysics analysis. It is committed to building a premier oil company through the development of its concentrated land and reserve base, and the integration of its wholly-owned and operated sales infrastructure.
Private Equity Round in 2013
Seven Generations Energy develops oil and natural gas properties in Canada, with a primary focus on non-conventional resource plays. The company is notably involved in the Kakwa River project, which spans approximately 528,000 net acres in northwest Alberta. Founded in 2001 and headquartered in Calgary, Seven Generations utilizes advanced techniques, including long-reach and horizontal drilling, to optimize the extraction of natural gas, condensate, and natural gas liquids. Alongside its drilling operations, the company owns several gathering lines and processing facilities, relying on a skilled team to effectively identify and develop resource opportunities.
Trinidad Drilling Ltd. is a Canadian company that specializes in providing drilling services to the oil and natural gas industry. Established in 1996 and headquartered in Calgary, Trinidad designs, builds, and operates modern drilling rigs primarily for complex wells in Canada, the United States, and internationally. The company operates a fleet of 70 rigs in Canada and 69 rigs in the United States and other international markets. Trinidad's offerings include land drilling services, as well as rig technology and labor services. Additionally, the company is involved in construction and insurance activities. Its operations are divided into Canadian and US/international segments, with a significant portion of revenue generated from oilfield services. Trinidad Drilling is committed to delivering reliable and expertly designed drilling solutions, supported by well-trained personnel.
Private Equity Round in 2013
NuVista Energy Ltd. is a Canadian company specializing in the exploration and production of condensate, oil, and natural gas, primarily within the Western Canadian Sedimentary Basin. The company's main focus is on the condensate-rich Montney formation located in the Wapiti area of the Alberta Deep Basin. Founded in 2003 and headquartered in Calgary, NuVista has strategically developed its business model to enhance financial flexibility and long-term growth prospects. The company has successfully transformed its operations by reducing long-term debt significantly and optimizing its asset portfolio, allowing for a concentrated effort on the high-potential Wapiti Montney play. Through effective drilling results and asset management, NuVista Energy aims to maximize the value of its resources while ensuring sustainable development.
Raging River Exploration Inc. is engaged in the exploration, development, and production of crude oil and natural gas properties primarily in Western Canada. The company focuses on the Viking light oil fairway, particularly in the greater Dodsland area of southwest Saskatchewan and the Esther area of southeastern Alberta. Raging River holds a significant net undeveloped land base of 591,363 acres. Established in 2011 and headquartered in Calgary, Alberta, Raging River Exploration operates as a subsidiary of Baytex Energy Corp., with its activities centered on the acquisition and development of oil and gas resources, especially in the Kindersley region of Saskatchewan.
Secure Energy Services offers safe, innovative, and environmentally responsible fluids and solids solutions for the oil and gas sector. The company operates through three main segments: Environmental Waste Management, Energy Infrastructure, and Oilfield Services. Its Environmental Waste Management segment is the primary revenue generator, featuring a network of waste processing facilities, produced water pipelines, industrial landfills, waste transfer operations, and metal recycling services. The Energy Infrastructure segment includes crude oil gathering pipelines and terminals that facilitate the processing, storage, shipping, and marketing of crude oil. Additionally, Secure Energy Services provides water treatment and disposal services to support upstream oil and natural gas companies, ensuring efficient and responsible management of environmental resources.