Westbridge Capital Ltd. Has Closed the Acquisition of Woodsman Energy
Westbridge Capital Ltd. (“Westbridge”) is happy to announce the formation of Woodsman Energy (“”Woodsman”), an oil and gas company and the acquisition of their first producing wells. Woodsman is focused on acquiring existing producing assets that have low production decline rates and modest end of life environmental reclamation costs. Woodsman intends on being a reliable counterparty for producers that may have attractive drilling prospects and are otherwise capital constrained. In the near term Woodsman has production goals of 500 - 1000 barrel of oil equivalents (BOE) produced per day divided equally between oil and gas.
Woodsman is led by an experienced management team—Trevor Boyce (CEO) and Richard Suffron (COO). Trevor is a Geophysicist with 28 years of technical and corporate management experience in the oil and gas industry. He has been directly responsible for drilling over 200 wells both domestically and internationally, planning and implementing field development, business development strategies, risk management and has provided technical advisory services for multinational investment institutions. Trevor has worked at multiple recognized top performing oil and gas companies including Cypress Energy, Cequel Energy, Cyries Energy, Progress Energy and most recently at Venturion Oil.
Richard Suffron is a Petroleum Engineer with over 30 years’ experience in technical, leadership and management roles including 12 years of field experience directly operating oil and gas plants and wells. He has a diverse technical background and supervisory experience allowing for managing all technical challenges while keeping the corporate business objectives in view. He has expertise with the execution of field development, drilling and completions, production operations, production engineering and facilities construction. Richard has worked at Amerada Hess, Canadian Hunter Exploration, Cork Exploration, Harvest Operations, Steppe Resources and most recently at Venturion Oil.
Trevor Boyce, commented “Woodsman Energy is thrilled to be welcomed into the Westbridge family. We appreciate their long-term investment focus and structure aimed at achieving an alignment with their portfolio company management teams.”
Mike Meekins, CEO of Westbridge, commented “Trevor, Richard and the Woodsman Energy team are methodical in their approach. By providing the industry a source of liquidity at a time that capital is scarce we expect they will be able to achieve their production goals. We are pleased to support their growth as part of the Westbridge family.”
About Woodsman Energy
Woodsman Energy is focused on providing liquidity to the junior oil and gas market in Canada by being a reliable counterparty for the sale of low production decline assets with modest environmental liabilities.
About Westbridge Capital
Westbridge Capital is a private equity management company. Westbridge Capital focuses on real estate and private equity investments that by their nature have little correlation to publicly listed securities and may be used to diversify a portfolio and reduce overall portfolio risk and Volatility.
About Westbridge Capital Partners Income Trust
Westbridge Capital Partners Income Trust (the Fund) is a Canadian domiciled Mutual Fund Trust managed by Westbridge Capital. The Fund makes high yield loans to mature operating companies and distributes the associated income stream to investors through monthly distributions.