Azimuth Capital Management

Azimuth Capital Management is an energy-focused venture capital and private equity firm headquartered in Calgary, Canada, with additional offices in the San Francisco Bay Area, Houston, and Denver. It makes direct investments and co-investments in North American energy companies spanning oil and gas exploration and production, oil sands, non-conventional resources, energy infrastructure, services, and energy technology, including the energy transition. The firm targets opportunities in Canada, the United States, and international energy markets, with typical investments of 7.58 million to 36.12 million dollars and long-term horizons of more than ten years.

Tayler Amatto

Senior Vice President

Nathalie Beken

Associate

David Deak

Operating Partner

Tori Fahey

Managing Director

James Farnsworth

Operating Partner

Stephen Harper

Working Equity Partner

Luc Hudon

Senior Associate

Scott Jelec

Senior Vice President

Howard Mayson

Operating Partner

Ryan Patryluk

Managing Director, Investments

Dave Pearce

Industry Partner

Melissa Zhang

Associate

Jeff van Steenbergen

General Partner

Past deals in Oil and Gas

Corex Resources

Acquisition in 2022
Corex Resources Ltd. is an oil and natural gas company based in Calgary, Canada, specializing in exploration and production activities in Western Canada. Founded in 2007 and formerly known as Amarone Oil & Gas Ltd., the company focuses on generating shareholder value through the development of drilling opportunities and strategic acquisitions. Corex Resources actively seeks accretive acquisitions and complementary farm-in opportunities to enhance its operations. The company's approach combines internally generated exploration initiatives with development drilling to maximize returns while navigating the competitive landscape of the oil and gas sector.

Whitecap Resources

Private Equity Round in 2021
Whitecap Resources is an oil-weighted growth company based in Calgary, Alberta, established in 2009. It specializes in acquiring, developing, and managing interests in petroleum and natural gas properties. The company primarily focuses on light oil production from its Canadian assets, utilizing advanced extraction techniques such as horizontal drilling and multistage fracturing to enhance recovery. Whitecap is committed to sustainable long-term growth and shareholder returns, which is reflected in its practice of paying monthly cash dividends to shareholders. Additionally, the company is recognized for its efforts in carbon dioxide storage, further emphasizing its dedication to responsible resource management and environmental sustainability.

Recover

Venture Round in 2020
Recover Energy Services Inc., based in Calgary, Canada, specializes in the recycling and disposal of oil-contaminated drill cuttings generated from oil-based mud drilling operations. Founded in 2008, the company employs proprietary technology to clean and recycle these waste materials, recovering base oil and significantly reducing carbon dioxide emissions. This eco-friendly approach enables oil and gas companies to manage their waste responsibly while minimizing environmental impact.

TimberRock Energy

Private Equity Round in 2017
TimberRock Energy Corp. is an oil and gas exploration and production company headquartered in Calgary, Alberta. Founded in 2004, the company focuses on the exploration of oil and gas resources in the region, leveraging its expertise to identify and develop energy assets. Through its operations, TimberRock Energy aims to contribute to the energy sector while maintaining a commitment to responsible resource management.

Karve Energy

Private Equity Round in 2016
Karve Energy is an oil exploration and production company based in Calgary, Canada, focused on light oil production. The company is engaged in developing oil rights through agreements that facilitate drilling and production activities. Its operations include drilling new wells, enhancing production from existing wells, and acquiring additional properties with oil and gas potential. By offering fair and straightforward terms, Karve Energy promotes the development of fee simple lands, aiming to generate long-term value for its stakeholders.

Entrada Resources

Pre Seed Round in 2016
Entrada Resources Inc. is an oil and gas company based in Calgary, Canada, focused on developing and acquiring assets within the Western Canadian Sedimentary Basin. Founded in 2016, the company specializes in the Cardium formation at Willesden Green. Entrada employs infill drilling, optimization, and enhanced recovery techniques to maximize the potential of its assets, thereby facilitating growth and optimizing returns for its stakeholders. The company is dedicated to strategically enhancing its position in the energy sector through its targeted approach to asset development.

Connaught Oil & Gas

Private Equity Round in 2016
Connaught Oil & Gas is a calgary-based company that develops and produces petroleum and natural gas. They have fundamental principles that guide their entire activities, which are creativity, integrity, community involvement, and upholding their environmental and safety responsibilities.

M-Flow Technologies

Private Equity Round in 2015
M-Flow Technologies Ltd. is a manufacturer based in Abingdon, United Kingdom, specializing in advanced bore meters that deliver accurate, real-time measurements of oil, gas, and water content in flow lines. Established in 2011, the company focuses on multiphase metering and monitoring solutions tailored for the upstream oil and gas industry. Its flagship product, the sure-cut meter, operates effectively in multiphase flows, enhancing phase fraction metering capabilities for various applications, including wellhead, heavy oil, and subsea environments. M-Flow Technologies is committed to providing reliable data without compromising product integrity or flow, positioning itself as a key player in the evolving demands of oil and gas production.

Seven Generations Energy

Private Equity Round in 2013
Seven Generations Energy Ltd. is an independent energy company based in Calgary, Canada, engaged in the exploration and development of oil and natural gas properties. Founded in 2001, the company focuses on non-conventional resource plays, particularly in Canada. It holds interests in the Kakwa River project, encompassing approximately 528,000 net acres in northwest Alberta. Utilizing advanced techniques such as long-reach and horizontal drilling, Seven Generations produces natural gas, condensate, and natural gas liquids. The company also owns several gathering lines and processing facilities, which support its operations. A skilled technical and business team drives the company's efforts to identify and optimize high-quality resource plays.

Magma Global

Series B in 2013
Magma Global Ltd. is a designer and manufacturer of innovative subsea pipes specifically tailored for subsea exploration and production in challenging environments, including deepwater and high-pressure applications. The company's flagship product, m-pipe®, features advanced carbon fibre and Victrex PEEK composite materials that provide anti-corrosion properties and high fluid flow rates. This technology is utilized in various applications such as flowlines, jumpers, intervention systems, and risers, enabling efficient transfer of hydrocarbons, water, and gas. Founded in 2008 and headquartered in Portsmouth, United Kingdom, Magma Global has expanded its presence with additional offices in the United States, Angola, and Saudi Arabia. The company collaborates strategically with TechnipFMC to further enhance its offerings to the oil and gas industries worldwide.

Corex Resources

Private Equity Round in 2013
Corex Resources Ltd. is an oil and natural gas company based in Calgary, Canada, specializing in exploration and production activities in Western Canada. Founded in 2007 and formerly known as Amarone Oil & Gas Ltd., the company focuses on generating shareholder value through the development of drilling opportunities and strategic acquisitions. Corex Resources actively seeks accretive acquisitions and complementary farm-in opportunities to enhance its operations. The company's approach combines internally generated exploration initiatives with development drilling to maximize returns while navigating the competitive landscape of the oil and gas sector.

Osum

Private Equity Round in 2011
Osum Oil Sands Corp. is a private energy company based in Calgary, Canada, focused on the extraction of bitumen from oil sands using in-situ recovery technologies. Founded in 2005, Osum primarily operates within the Grosmont carbonates, an emerging oil play recognized for its significant potential. The company is developing a diverse portfolio of high-quality assets at various stages of development, with a total production capability exceeding 500,000 barrels per day. Osum is led by a skilled management team and an experienced Board of Directors, emphasizing community development and environmental performance in its operations. The company is actively involved in exploring and constructing pipeline infrastructure to facilitate the transport of its petroleum products.
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