Victory Park Capital Provides $100 Million Credit Facility to Buccaneer Energy Limited
Feb 05, 2013
Victory Park Capital (“VPC”), an asset management firm that specializes in direct credit and equity investing in middle market companies, today announced that it has provided senior credit facilities of up to $100 million to select U.S. operating subsidiaries of Buccaneer Energy Limited (“Buccaneer” or the “Company”), an Australian company focused on developing oil & gas assets in Alaska.
“With expertise in providing specialized financing solutions to small and middle market companies, we are pleased to have the opportunity to provide financing to a dynamic and growing business such as Buccaneer.”
VPC’s financing allows Buccaneer to continue the execution of its three-pronged, strategic growth plan encompassing the development of its 100%-owned Kenai Loop onshore gas project, exploration and development of its additional 100%-owned and/or operated onshore and offshore Cook Inlet leases, and deployment and operation of its world-class, offshore jack-up rig, the Endeavour.
“With expertise in providing specialized financing solutions to small and middle market companies, we are pleased to have the opportunity to provide financing to a dynamic and growing business such as Buccaneer,” said Victory Park Capital Investment Professional Derek Ferguson. “Under management’s stewardship, our facilities will help advance the Company’s future development efforts in the Cook Inlet, enabling Buccaneer to expand its operations and increase delivery of mission-critical natural gas and other vital resources to customers and consumers alike throughout Alaska.”
About Buccaneer Energy Limited
Buccaneer is an Australian-listed upstream oil and gas company focused on the development of low-risk exploration plays with high-growth potential. The Company’s flagship projects currently include a series of onshore and offshore developmental and exploration plays located in Alaska’s Cook Inlet.