Rock Energy

In 2004, a mechanical engineer with a history of building and selling energy companies, Allen Bey, founded Rock Energy Inc. The company focused on the exploration and production of crude oil and natural gas in Western Canada, particularly targeting assets in southwest Saskatchewan. Bey and his team zeroed in on the potential of the Viking light oil play in the Kerrobert area, a strategy that would define the company's trajectory. For over a decade, Rock Energy operated and developed its core properties. The business was built on tangible assets: producing wells and prospective land. The company's portfolio included not just the Viking light oil assets but also low-decline heavy oil assets, demonstrating a balanced approach to production and long-term value. This positioned them as a knowledgeable and efficient operator in a competitive basin. The endgame for many focused exploration and production companies is often an acquisition by a larger player, and Rock Energy's story followed this classic playbook. In mid-2016, Raging River Exploration Inc. identified Rock's assets as a perfect complement to its own Viking operations. On July 21, 2016, Raging River completed the acquisition of Rock Energy. The deal was valued at approximately $109 million, a price that included the issuance of Raging River shares and the assumption of about $67 million in debt, marking a successful exit for Allen Bey and his shareholders.