Waterous Energy Fund Acquires Majority Stake in Greenfire Resources Ltd.

Waterous Energy Fund Acquires 43.3% Stake in Greenfire Resources Ltd.

November 11, 2024

Oil & Gas

Waterous Energy Fund Management Corp., acting for Waterous Energy Fund III LPs, closed the acquisition of 29,988,854 common shares (approximately 43.3% of outstanding) of Greenfire Resources Ltd. at USD $8.05 per share for an aggregate of ~USD $241.3 million. The transaction closed following a decision by the Alberta Securities Commission related to Greenfire's shareholder rights plan.

Waterous Energy Fund Purchases Shares of Greenfire Resources Ltd.

November 14, 2025

Energy

Waterous Energy Fund Management Corp., acting for certain Waterous Energy Fund III partnerships, purchased 1,926,055 common shares of Greenfire Resources Ltd. in a private transaction for C$6.65 per share (C$12.81 million), increasing its ownership in Greenfire to approximately 71.1% on an undiluted basis. The purchase represents an incremental strategic investment by Waterous to consolidate its position in the Calgary-based oil sands producer.

Waterous Energy Fund / Strathcona Acquires Caltex Resources Ltd. and Tucker Thermal Oil Property

March 14, 2022

Oil & Gas

Waterous Energy Fund (WEF) closed its fourth capital raise (~C$345 million) to fund the acquisitions of Caltex Resources Ltd. and the Tucker thermal oil property, and amalgamated those assets with Strathcona Resources Ltd. The combined entity will continue as Strathcona Resources (100% owned by WEF and Strathcona employees), creating one of North America’s largest private oil companies with pro forma production of ~110,000 Boe/d and 1.9 billion Boe of proved-plus-probable reserves.

Fusion Fuel Green Acquires Controlling Stake in Quality Industrial Corp.

November 26, 2024

Energy

Fusion Fuel Green plc (NASDAQ: HTOO) completed a share-exchange acquisition of approximately 70% of Quality Industrial Corp. (QIND), appointing John-Paul Backwell as CEO and reorganizing senior leadership to support expanded energy engineering and hydrogen solutions. The transaction aims to strengthen Fusion Fuel’s engineering, supply and services capabilities in renewable energy and industrial gas markets; certain post-close approvals and a Nasdaq listing appeal remain outstanding.

IFM Net Zero Infrastructure Fund Acquires Majority Interest in GreenGasUSA

January 30, 2023

Energy

IFM Net Zero Infrastructure Fund (part of IFM Investors) has signed a definitive agreement to acquire a majority interest in GreenGasUSA, a Charleston-based developer, owner and operator of renewable natural gas (RNG) projects. The investment, NZIF's first in the low carbon fuels sector, will provide capital to expand GreenGas's footprint of RNG projects and support long-term growth while the company's founder and CEO Marc Fetten remains in place.

Northleaf Capital Partners Acquires Majority Stake in Provident Energy Management

August 2, 2023

Energy

Funds managed by Northleaf Capital Partners have acquired a majority stake in Provident Energy Management Inc., a Canadian provider of sub-metering, building automation and energy consulting services focused on the multi-residential new construction market. Provident's management will retain a minority interest; the partnership is intended to accelerate growth and expand Provident's services across additional markets in Canada and the United States.