Anvil Channel Energy Solutions Closes $51.35 Million Acquisition Financing

HOUSTON, March 10, 2022 /CNW/ -- Anvil Channel Energy Solutions today announced the close of a USD$51,350,000 senior secured term loan facility to ROK Resources, Inc., supporting the acquisition of producing oil & gas assets, primarily in Saskatchewan and Alberta, Canada from Federated Co-operatives Limited. Total consideration paid for the acquisition was approximately CAD$72 million; Anvil's loan facility was sized at USD-equivalent to CAD$65 million.

"We are excited to be supporting ROK Resources on their next phase of growth. Chairman and CEO, Cam Taylor and his team have an exceptional track record and we look forward to partnering with them as they capitalize on future market opportunities. This transaction is illustrative of Anvil's flexible capital solutions supporting important upstream acquisition and divestiture activity under tight timelines and extreme market volatility" noted David O'Driscoll, President and CIO of Anvil Channel.

"We are delighted to have successfully executed this transformative transaction with support from the Anvil team; their ability to react quickly to changes in the marketplace during the underwriting process and keep the deal on track enabled us to reach a successful close to the benefit of our stakeholders" said Cam Taylor, Chairman and CEO of ROK.

Anvil Channel provides debt capital to lower middle market companies with proven management teams active across the North American upstream energy market, seeking to accelerate their strategic growth ambitions through acquisition and development. Anvil's ability to provide flexible capital within tight timelines allows borrowers to execute on opportunities despite heightened volatility across the sector.

Latham & Watkins LLP and Borden Ladner Gervais LLP served as legal counsel to Anvil Channel.

About Anvil Channel
Anvil Channel Energy Solutions is a private direct lender focused on the upstream energy sector. With offices in Houston and Los Angeles, the company invests within tightly bound perimeters of value-oriented oil and gas opportunities backed by several blue-chip institutional investors. Anvil's management team is comprised of seasoned energy investment professionals. More information is available on its website: http://www.anvilcp.com

About ROK Resources, Inc.
ROK is primarily engaged in exploring for petroleum and natural gas development activities in Saskatchewan. Its head office is located in Regina, Saskatchewan, Canada and ROK's common shares are traded on the TSX Venture Exchange under the trading symbol "ROK".

SOURCE Anvil Channel Energy Solutions