NEW YORK, June 20, 2012 /PRNewswire/ -- Bregal Energy
(formerly known as Good Energies Capital) announced today that it
has increased its investment in Inflection Energy, LLC.
Inflection Energy is focused on the responsible development and
production of Marcellus Shale
natural gas resources in Pennsylvania and New York. The round was
led by Noble Group (SGX: N21), as a new investor to the company and
included participation by Hexagon. The primary use of
proceeds will be to fund a drilling program in Pennsylvania and support company growth
activities.
(Logo: http://photos.prnewswire.com/prnh/20120607/NY20716LOGO
)
"This investment round represents a strategic milestone for
Inflection Energy that sets the company on a clear path of
long-term growth," said Mark Sexton,
Chairman & Chief Executive Officer of Inflection. "Bregal
Energy has proven to be a valuable strategic partner for Inflection
Energy since its initial investment during April 2011."
This investment in Inflection will enable drilling to commence
immediately, providing local jobs and significant tax revenue for
local communities in Pennsylvania.
In addition, once the moratorium on high volume hydraulic
fracturing is lifted in New York,
Inflection will be able to bring best in class technology to the
region, enabling responsible development of those resources.
"Despite low natural gas prices, given the current low and
improving cost of extraction we continue to view the Marcellus, and
other shale plays with favorable fundamentals, as attractive
investment opportunities," said John
Breckenridge, leader of Bregal Energy. "In addition to
continued investment in the E&P sector, we are also very
focused on associated opportunities in midstream and services and
are actively evaluating opportunities to deploy more capital in the
region. We continue to view the shale plays broadly as critical for
energy security, affordable energy prices and continued job
growth."
The additional investment in Inflection complements Bregal
Energy's North American shale focused investment strategy.
While Bregal Energy continues to evaluate and seek associated
investment opportunities in the Marcellus region, Bregal Energy is
also seeking investment opportunities to deploy capital into tight
oil and oil shale plays over the coming months as it continues to
build out its portfolio. Over the past year, Bregal Energy has
invested in the Fortune Creek midstream partnership alongside KKR
in the Horn River Basin, BC and in Iron Mountain Generation, a
company focused on the development of small scale natural gas power
plants in the Marcellus and Utica.
About Bregal Energy
Bregal Energy (formerly known as Good Energies Capital) is
a private equity fund that invests broadly across the North
American energy industry. Bregal Energy's focus includes the oil
& gas E&P, midstream, power generation, renewables,
transmission and related energy services sectors. Bregal Energy's
investment team has deep energy investing experience and an
extensive industry network. The fund focuses on individual
investments between $15 million and $75
million in both control and non-control opportunities.
Bregal Energy is part of Bregal Investments. For more information,
please visit www.bregalenergy.com.
About Inflection Energy
Privately held Inflection Energy LLC, with offices in
Denver, Pittsburgh and Williamsport, was founded in 2008 and is
focused on the exploration and development of natural gas
opportunities in the Appalachian region. The Inflection team is
committed to protecting the environment and minimizing surface
disturbance when conducting natural gas activities on royalty
owners' lands. Inflection meets or exceeds best-in-class standards
when drilling and completing its wells, and highly values the
company's relationships with landowners and communities, who are
its partners in the efficient and orderly development of their
natural gas resources.
SOURCE Bregal Energy
