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ArcLight invests $75m in Canyon Creek to develop mid-US oil and gas assets

3 Apr 2014

news_pipeline_lrgEnergy-focused private equity firm ArcLight Capital Partners has invested $75m of equity into Canyon Creek Resources to develop oil and gas assets in the US mid-continent region.

ArcLight and Canyon Creek have created Canyon Creek Energy Partners to run the operations.

Canyon Creek Resources was formed in 2012 to focus on acquisition and development opportunities in the region, and currently owns and operates oil and gas assets in Oklahoma.

ArcLight’s Mark Bisso said, “We’re excited about our relationship with Canyon Creek and the prospects of this partnership.

“They have assembled a top tier management team and the company is very well positioned to leverage its acquisition and development experience in the Mid-Continent region.”

The move comes about a year after ArcLight teamed up with two US energy companies to merge their natural gas pipeline and storage businesses into an $11bn company.

ArcLight will have about 59 per cent limited partner interest in the business, CenterPoint Energy 28 per cent and OGE Energy 13 per cent.

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