CALGARY (January 9, 2024) – Parallax Energy, L.P. (“Parallax”) today announced the closing of an equity commitment from investment funds managed by Carnelian Energy Capital Management, L.P. (“Carnelian”).
“We look forward to building Parallax with Carnelian,” said Dustin Hoffman, Parallax’s Chief Executive Officer. “Carnelian’s nimble and value additive approach pairs with our vision to build a high-performance operating company during this compelling time in the market.”
Dan van Kessel, Parallax’s Chief Financial Officer added, “We believe our team’s experience and relationships across the basin, combined with the financial backing of Carnelian, provide a strong foundation for value creation.”
About Parallax Energy, L.P.
Parallax Energy is an upstream company focused on acquisition and development opportunities in Canada. For more information, please visit www.parallaxenergy.ca.
About Carnelian Energy Capital Management, L.P.
Carnelian Energy Capital is a North American-focused investment firm with an established track record of value creation across the energy sector. With $2.9 billion of cumulative capital commitments, Carnelian is dedicated to bringing its strategic expertise and nimble approach to partnerships with leading businesses and best-in-class management teams. For more information, please contact Carnelian at info@carnelianec.com or visit www.carnelianenergy.com.