Warburg Pincus to invest up to $500M in RimRock

Warburg Pincus, a global private equity firm focused on growth investing, has agreed to a line-of-equity investment of up to $500 million in RimRock Oil & Gas, a startup oil and gas exploration and production company. RimRock intends to focus on the acquisition and development of unconventional oil and gas assets across select basins in the US and Canada.   

RimRock is led by President and CEO Jim Fraser and Managing Director Bob Rooney, who both were executives of Talisman Energy. Fraser also previously held executive roles at Chesapeake Energy and Burlington Resources. Other founding team members include Glenn Schmidt, senior vice president of geoscience; Andre Baillargeon, senior vice president and CFO; and Bala Balakrishnan, senior vice president of business development. 

The equity for this investment is coming from affiliates of Warburg Pincus Private Equity XII LP and Warburg Pincus Energy LP.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...