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

Waterous Energy Fund Acquires Majority Stake in Greenfire Resources Ltd.

November 12, 2025

Oil & Gas

Waterous Energy Fund Management Corp., acting for Waterous Energy Fund (WEF), purchased 8,703,479 common shares of Greenfire Resources Ltd. for C$6.55 per share (C$57.0 million), increasing its ownership to approximately 68.3% of Greenfire on an undiluted basis. The private transactions gave WEF majority control of the Calgary-based oil and gas producer; WEF said it will continue to review its investment and may take further actions with respect to Greenfire's securities.

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 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.

Woodsman Energy Acquires Central and Northern Alberta Oil & Gas Assets

March 28, 2024

Oil & Gas

Woodsman Energy Corp., with financing provided by a fund managed by Westbridge Capital Ltd., closed the acquisition of oil and gas assets in Central and Northern Alberta (Sullivan Lake and Valhalla) on March 28, 2024. The properties add approximately 400 boe/d of production (about 60% oil/NGLs), are >95% working interest and mostly operated, and expand Woodsman's portfolio of long-life, low-decline assets.

Select Energy Services Acquires Complete Energy Services from Superior Energy Services

July 12, 2021

Energy

Select Energy Services (NYSE: WTTR) acquired substantially all water-related assets and ongoing operations of Complete Energy Services, an operating subsidiary of Superior Energy Services, in exchange for 3.6 million shares of Class A common stock and $14.2 million in cash (subject to adjustments). The deal adds more than 300,000 barrels per day of permitted disposal capacity and brings over 700 field personnel to Select, expanding its footprint across the Permian, Mid-Continent, Rockies, Powder River Basin and the Marcellus/Utica regions.

Offen Petroleum Acquires Wholesale Businesses of W. Douglass Distributing, Ltd.

October 31, 2023

Energy

Offen Petroleum LLC, a portfolio company of Court Square Capital Partners, has acquired all of the wholesale businesses of W. Douglass Distributing, Ltd. Offen will retain virtually all wholesale employees, operate from Douglass’s Sherman, Texas campus as a regional operations center, and use the acquisition to expand its Texas and surrounding-market distribution footprint.