Press & Media
March 10, 2022
Anvil Channel Energy Solutions Closes $51.35 Million Acquisition Financing
HOUSTON, March 10, 2022 /PRNewswire/ -- Anvil Channel Energy Solutions today announced the close of a USD$51,350,000 senior secured term loan facility to ROK Resources, Inc., supporting the acquisition of producing oil & gas assets, primarily in Saskatchewan and Alberta, Canada from Federated Co-operatives Limited. Total consideration paid for the acquisition was approximately CAD$72 million; Anvil's loan facility was sized at USD-equivalent to CAD$65 million.
"We are excited to be supporting ROK Resources on their next phase of growth. Chairman and CEO, Cam Taylor and his team have an exceptional track record and we look forward to partnering with them as they capitalize on future market opportunities. This transaction is illustrative of Anvil's flexible capital solutions supporting important upstream acquisition and divestiture activity under tight timelines and extreme market volatility" noted David O'Driscoll, President and CIO of Anvil Channel.
"We are delighted to have successfully executed this transformative transaction with support from the Anvil team; their ability to react quickly to changes in the marketplace during the underwriting process and keep the deal on track enabled us to reach a successful close to the benefit of our stakeholders" said Cam Taylor, Chairman and CEO of ROK.
Anvil Channel provides debt capital to lower middle market companies with proven management teams active across the North American upstream energy market, seeking to accelerate their strategic growth ambitions through acquisition and development. Anvil's ability to provide flexible capital within tight timelines allows borrowers to execute on opportunities despite heightened volatility across the sector.
Latham & Watkins LLP and Borden Ladner Gervais LLP served as legal counsel to Anvil Channel.
About Anvil Channel
Anvil Channel Energy Solutions is a private direct lender focused on the upstream energy sector. With offices in Houston and Los Angeles, the company invests within tightly bound perimeters of value-oriented oil and gas opportunities backed by several blue-chip institutional investors. Anvil's management team is comprised of seasoned energy investment professionals. More information is available on its website: http://www.anvilcp.com
About ROK Resources, Inc.
ROK is primarily engaged in exploring for petroleum and natural gas development activities in Saskatchewan. Its head office is located in Regina, Saskatchewan, Canada and ROK's common shares are traded on the TSX Venture Exchange under the trading symbol "ROK".
July 26, 2021
Anvil Channel closes $65MM Direct Loan to Certus Oil & Gas
HOUSTON, July 26, 2021 /PRNewswire/ -- Anvil Channel Energy Solutions today announced final close of a USD$65,000,000 senior secured loan facility to Certus Oil & Gas, Inc., supporting the acquisition of producing assets in central Alberta. This transaction marks the first cross-border transaction undertaken by the new Anvil Channel direct energy lending initiative.
"We are excited to have successfully executed this transformative transaction with support from the Anvil team; the creative capital solution structured by Anvil came at a critical time in our company's growth cycle." said Rob Brady President and CEO of Certus.
Anvil seeks to solve the gap between bank lenders, which have largely pulled back from the micro and mid-cap market in the U.S. and Canada, and the typically more expensive mezzanine and preferred equity providers.
"We were particularly happy to provide a liquidity solution in this persistently challenging energy space." Noted Cary Meadow, Chairman and CEO of Anvil Channel. "This transaction is a perfect representation of Anvil's thesis and mission - provide established producers with much needed acquisition and development capacity to meet their growth goals in a tight liquidity market."
Proceeds of the loan were used to fund the corporate acquisition of Sitka Exploration Ltd., providing geographically and technically complimentary assets to the existing Certus platform.
Anvil continues to seek strong sponsor partners with deep knowledge in the upstream E&P space who require acquisition, refinance and development capital for producing assets.
Noted David O'Driscoll, Co-CIO and President of Anvil Channel, "We are excited to partner with the Certus team to support their transformative acquisition and next phase of growth. Our expanded investment mandate allows us to consider supporting proven management teams in Canada as well as in the U.S., and we're delighted to get this inaugural cross-border transaction closed in an expedited manner." Echoing this sentiment Co-CIO James Avery said, "We believe our ability to stretch lend in this environment makes us an extremely competitive alternative to other sources of capital while maintaining a comfortable pricing level for the Company by tailoring the cost to fit production and cash-flows and look forward to continuing to review new opportunities throughout the balance of the year."
About Certus Oil and Gas Inc.
Certus is a privately owned company that has been operating in central Alberta since 2017.
About Anvil Channel
Anvil Channel Energy Solutions is a private direct lender focused on the upstream energy space. With offices in New York and Houston the company invests within tightly bound perimeters of value oriented oil and gas opportunities backed by several blue-chip institutional investors. More information is available on its website: http://www.anvilcp.com
April 29, 2021
Anvil and Boomerang Merge to Capitalize on Loan Demand for Middle Market Borrowers
HOUSTON, April 29, 2021 /PRNewswire/ -- Boomerang Credit Fund, Channel Investments and the Anvil Energy Partners team today announced a business combination to deploy up to $300,000,000 via a static pool lending facility for upstream oil and gas producers. The new company will be branded as Anvil Channel Energy Solutions.
The new private lender will originate new issue facilities for borrowers seeking between $10,000,000 and $100,000,000 for refinancings, acquisitions and development of energy assets.
The firm will combine origination, credit expertise and in-house technical engineering leveraged to the Anvil team and track-record.
"We are excited about the prospects our combined teams offer in terms of addressing the largely unmet small and mid-cap market for direct lending," said Cary Meadow, Executive Chairman of Anvil Channel. "We believe in the continued long term need for uni-tranche capital deployment to environmentally sound upstream energy companies."
Echoing Mr. Meadow, James Avery, CEO of Anvil Channel said, "We look forward to the structural integration of our firms and coming to market with our first transactions in 2021. We believe that while renewable energy and alternative power solutions are an integral part of the global energy mix going forward, upstream oil and gas are still critical elements of the U.S. energy complex for the foreseeable future."
President and CIO, David O'Driscoll said, "The continued retrenchment of capital from the sector has resulted in a prolonged cycle; we are excited to provide crucial liquidity to the market to facilitate the strategic initiatives of our clients." This sentiment was followed by his colleague and Head of Origination, Rob Lindermanis, who noted "we look to provide capital to companies positioned for growth and expansion in this challenging environment."
The Company, headquartered in Houston, TX with offices in Los Angeles, CA and Stamford, CT is actively seeking opportunities in the domestic United States and Canada.
More information about the team and strategy is available at: http://www.anvilcp.com
About Anvil Energy Partners
The Anvil Energy Partners team entered the credit market in 2019 with an upstream strategy supported by several institutional investors.
About Boomerang Credit Fund
Boomerang Credit Fund is a wholly owned subsidiary of Channel Investments, a private alternative investor with deep energy expertise based in Los Angeles, California.