Thursday July 24, 9:11 am ET Firm's Eighth Investment to Begin Exploration in Rockies, Pacific Northwest NEW YORK--(BUSINESS WIRE)--Pine Brook Road Partners, LLC, a private equity firm that makes business building and growth capital investments in energy and financial services, today announced the formation of a joint venture with Comet Ridge Ltd., an oil and gas exploration and production company listed on the Australian Stock Exchange (ASX: COI - News ), to develop the company’s U.S.-based oil and gas assets. Under terms of the agreement, Pine Brook Partners will provide up to $100 million of funding and hold a majority stake in the business, with Comet Ridge Ltd. and company management retaining a significant stake. The joint venture, Comet Ridge Resources, owns the portfolio of exploration and development assets...
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