About Us

Corporate Profile

Velvet Energy Ltd. is a privately-held crude oil & natural gas exploration and production company. The Company explores for, develops, acquires and produces crude oil and natural gas in Western Canada. Headquartered in Calgary, Velvet has current production of approximately 14,000 boe per day and a focused land position consisting of 412,000 net acres in West-Central Alberta. From start-up in 2011, Velvet has successfully pursued a counter-cyclical business plan with a primary emphasis towards liquids-rich natural gas and has established a self-funded organic growth plan to over 20,000 boe per day over the next two to three years.

The Company’s management team has a proven track record of long-term value creation and achieving consistent production growth in the Western Canadian Sedimentary Basin. Velvet is very well capitalized, having deployed an initial equity line of $336 million and recently finalized a $100 million incremental equity commitment through its private equity investors, led by Warburg Pincus. The Company also has a highly respected board of directors with a significant constituency of independent members.

Exploration is a key component of Velvet’s business plan and the Company has a “growth through the drill bit” business model, focused on pursuing value-added initiatives. The exploration function is viewed as crucial in maintaining an inventory of opportunities and projects to achieve long term sustainable growth and the Company is pursuing a number of emerging exploration prospects across Velvet’s portfolio.

Officers

Ken S. Woolner
President and Chief Executive Officer

Christopher B. Theal
Chief Financial Officer

George Gervais
Executive Vice President

J. Peter Henry
Vice President, Finance

Jeremy Kwasnecha
Vice President, Production & Operations

Geoff MacDonald
Vice President, Exploration

David Stobbe
Controller and Treasurer

Board of Directors

Ken S. Woolner
President and Chief Executive Officer
Velvet Energy Ltd.

Harvey Doerr
Independent Businessman

John A. Brussa
Partner
Burnet, Duckworth & Palmer L.L.P.

Roger Smith
Independent Businessman

Vincent L. Chahley
Independent Businessman

Christopher R. Manning
Trilantic Capital Partners

Robert E. Hougie
ZAM Ventures, L.P.

David B. Krieger
Warburg Pincus L.L.C.

Jacob Strauss
Warburg Pincus L.L.C.

Investors

Warburg Pincus L.L.C.
Warburg Pincus L.L.C. is a leading global private equity firm focused on growth investing. The firm has more than $37 billion in assets under management. The firm’s active portfolio of more than 120 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 14 private equity funds, including a $4 billion energy fund that closed in October 2014, which have invested more than $50 billion in over 720 companies in more than 35 countries.

For more than two decades, Warburg Pincus has invested or committed over $9.5 billion across more than 50 energy investments around the world involved in oil and gas exploration and production, midstream, power generation, oilfield technology and related-services, mining and alternative energy development. Notable investments include Antero Resources (NYSE: AR), Bill Barrett Corporation (NYSE: BBG), Broad Oak Energy, Encore Acquisition Company, Kosmos Energy (NYSE: KOS), Laredo Petroleum (NYSE: LPI), MEG Energy (TSX: MEG), Newfield Exploration (NYSE: NFX), Spinnaker Exploration and Targa Resources (NYSE: TRGP, NGLS).

The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo and Shanghai. For more information please visit www.warburgpincus.com.

Trilantic Capital Partners
Trilantic Capital Partners is a private equity firm focused on control and significant minority investments in North America and Europe, with a primary investment focus in North America in the business services, consumer, energy and financial services sectors. Trilantic manages six institutional private equity funds with aggregate capital commitments of more than $7.0 billion. To date, Trilantic has committed more than $2.5 billion to the energy sector across twenty platform investments. For more information, visit www.trilantic.com.

ZAM Ventures, L.P.
ZAM Ventures, L.P. is one of the main investment vehicles for Ziff Brothers Investments, L.L.C., a multi-billion dollar family investment firm, headquartered in Manhattan, New York that invests in a variety of global asset classes. ZAM Ventures, L.P. focuses on energy-related private equity projects.

Advisors

LEGAL
Burnet, Duckworth & Palmer L.L.P.
2400, 525 - 8th Avenue S.W.
Calgary, Alberta
T2P 1G1

RESERVOIR ENGINEERS
GLJ Petroleum Consultants Ltd.
4100, 400 - 3rd Avenue S.W.
Calgary, Alberta
T2P 4H2

AUDITORS
PricewaterhouseCoopers L.L.P.
3100, 111 - 5th Avenue S.W.
Calgary, Alberta
T2P 5L3

BANKING SYNDICATE
Canadian Imperial Bank of Commerce
Royal Bank of Canada
Bank of Montreal
The Toronto-Dominion Bank

Calgary, Alberta

Corporate Responsibility

Velvet Energy Ltd. is committed to safeguarding human health and the environment in all of its operations and endeavours. In support of this commitment, Velvet has integrated the following objectives into the decisions affecting company operations:

  • An HSE Management System that emphasizes the identification and management of risks created by our activities.
  • Plans, practices and procedures that will ensure our compliance with the regulations that apply to our operations.
  • Applying industry best practices to allow us to minimize our footprint on the land and the environment.
  • The ongoing development of stakeholder relationships, built on trust and respect, through community engagement and stakeholder involvement.
  • Prompt and effective response to emergencies and incidents to minimize the impact on our workers, the public and the environment.
  • Reviewing HSE incidents to develop measures necessary to prevent their reoccurrence.
  • Monitoring and assessing HSE performance to take the steps needed to improve the management of our operations.
  • Ensuring that field operating personnel have the required knowledge to apply this policy through continuous learning, training and improvement throughout the life of the project.
  • Ensuring that the resources necessary to support this policy are provided.

We expect excellence in health, safety and environmental performance through the support and active participation of all management, employees and contractors working for Velvet. All those engaged in work for Velvet are aware of this policy and are expected to be committed to its implementation.

Contact

Calgary Office

Velvet Energy Ltd.
Suite 1500, 308 – 4th Avenue S.W.
Calgary, Alberta T2P 0H7
Phone: 403-781-9125
Fax: 403-781-9100
Emergency contact:
1-877-504-4253

Field Operations

Velvet Energy Ltd.
P.O. Box 6119
Edson, Alberta T7E 1T6
Velvet Energy Ltd.
523 – 50th Street
Edson, Alberta T7E 1Y2
Phone: 780-725-4545
Fax: 780-723-2690
Emergency Contact:
1-877-504-4253

Accounting

Please note that Velvet Energy Ltd. uses the Cortex Electronic Invoicing System. The benefits of using Cortex include priority invoice processing, elimination of lost or misplaced invoices and the ability to check on the status of your own invoice.