New Dealmaker in the Oil Patch

John Brussa, partner and head of the tax department at Burnet, Duckworth & Palmer LLP, will sit as an independent director of West Valley Energy Corp., a new investment firm that, according to a Globe and Mail story published on Wednesday, will be chasing conventional, tight oil plays in southern Alberta.

The new player in the oil patch is being funded by two American private-equity firms, Warburg Pincus LLC and Kayne Anderson Capital Advisors LP, and it’s being led by a team of oil and gas veterans in Calgary, including CEO Amar Pandila, a former VP of business development for EnCana Corp. with 25 years of experience in exploration and production.

With so much attention focused on unconventional oil sands production, West Valley no doubt sees value investment opportunities in the conventional space.

“It is tough slugging right now in the business, obviously, both for private and public companies,” he’s quoted as saying. “[However] it is always a wonderful time to start a company because it would be a horrible time to try to sell one right now.”

Read the press release announcing the company’s launch right here.

-David Dias

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