Black Swan Energy
Explores, develops, and produces oil and gas resources.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor investor | €0.0 | round | |
$1.1b Valuation: $1.1b | Acquisition | ||
| Total Funding | 000k | ||
Black Swan Energy Ltd., a Canadian company founded in 2010, specialized in oil and gas exploration and production. The company was established by a team of former executives from Talisman Energy, including David Maddison, who served as President and CEO, along with co-founders Marc Mereau, Leanne Juneau, Mike G. McInnis, and Bryan Lang. The leadership team leveraged its extensive experience in the Western Canadian Sedimentary Basin, with individuals like Maddison having over 40 years of industry experience.
Headquartered in Calgary, Alberta, Black Swan Energy focused on the exploration and development of unconventional hydrocarbon resources, particularly in the liquids-rich Montney formation in British Columbia and the Duvernay formation in Alberta. Its business strategy revolved around using advanced drilling, completion, and production technologies in early-entry positions to unlock the value of its asset portfolio. The company operated as a private entity, securing significant financial backing from prominent private equity investors, including Canada Pension Plan Investment Board (CPP Investments), Warburg Pincus, and Azimuth Capital Management. An initial investment round in 2011 raised up to C$350 million.
Over its decade of operation, Black Swan Energy grew to be a significant player in the North Montney region. The company's assets included substantial reserves, numerous drilling locations, and critical midstream infrastructure, such as interests in two gas plants at Aitken Creek. By 2021, the company's production was over 50,000 barrels of oil equivalent per day. In July 2021, Tourmaline Oil Corp. completed the acquisition of Black Swan Energy for approximately $1.1 billion. This acquisition was a key part of Tourmaline's strategy to consolidate its position as the largest producer in the North Montney region, which is considered a primary area for supplying Canadian LNG.
Keywords: Black Swan Energy, oil and gas exploration, energy production, Western Canadian Sedimentary Basin, Montney formation, Duvernay formation, unconventional resources, hydrocarbon exploration, Tourmaline Oil Corp, CPP Investments, Warburg Pincus, Azimuth Capital Management, David Maddison, Calgary energy company, natural gas production, liquids-rich gas, energy asset development, Canadian oil and gas, private equity energy, North Montney