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Artis Exploration secures investment from Warburg Pincus

Artis Exploration Ltd, a Calgary-based exploration and production (E&P) company, has closed a CAD180 million growth equity investment from private equity firm Warburg Pincus.

The common share private placement will be used to fund the company’s accelerated development program. 
Founded in 2015 and headquartered in Calgary, Alberta, Artis is a privately held E&P company focused on the Duvernay East Shale Basin of Western Canada, where the Company holds a contiguous acreage position of over 260,000 net acres.  Artis is led by Darryl Metcalfe, an industry veteran with over 30 years of experience in exploration, development and production, who was previously President and CEO at Artek Exploration, and held senior leadership roles at Ketch Resources, Ketch Energy, and AEC. Metcalfe is joined by a seasoned management team with extensive experience in the geotechnical and engineering aspects of resource and shale plays in North America.
“We are pleased to receive the support of our new partner Warburg Pincus, who brings a deep understanding of the development of North American resource plays and has a strong track record of investment in Canada,” says Darryl Metcalfe, President and CEO of Artis. “With this investment, we will be well-positioned to continue to scale through the development of our premier acreage position in the Duvernay oil play.”
“Artis has established a large and attractive acreage position in the Alberta East Shale Basin, where we see many compelling opportunities for future growth and development,” says David B Krieger, Managing Director, Warburg Pincus. “We look forward to partnering with Darryl and Artis’ best-in-class management team, in addition to the Company’s existing investment partners, to continue to grow the business and realise future value.”
Peters & Co Limited and RBC Capital Markets acted as financial advisors to Artis and BMO Capital Markets acted as financial advisor to Warburg Pincus. National Bank Financial Inc acted as strategic advisor to Artis.

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