Daily News: February 6, 2013

VPC Provides $100MM Facility to Australian Buccaneer Energy


Victory Park Capital (VPC) announced that it provided senior credit facilities of up to $100 million to select U.S. operating subsidiaries of Buccaneer Energy Limited, an Australian company focused on developing oil and gas assets in Alaska.

The financing allows Buccaneer to continue the execution of its three-pronged, strategic growth plan encompassing the development of its Kenai Loop onshore gas project, exploration and development of its additional owned and/or operated onshore and offshore Cook Inlet leases and deployment and operation of its world-class, offshore jack-up rig, the Endeavour.

“With expertise in providing specialized financing solutions to small and middle-market companies, we are pleased to have the opportunity to provide financing to a dynamic and growing business such as Buccaneer,” said VPC investment professional Derek Ferguson. “Under management’s stewardship, our facilities will help advance the company’s future development efforts in the Cook Inlet, enabling Buccaneer to expand its operations and increase delivery of mission-critical natural gas and other vital resources to customers and consumers alike throughout Alaska.”

VPC provides direct financing solutions to small-cap and middle-market companies across a wide range of industries.

Australia-based Buccaneer is an upstream oil and gas company focused on the development of low-risk exploration plays with high-growth potential.