The Carlyle GroupTo top
In December 2013, global alternative asset manager The Carlyle Group (NASDAQ:CG) made a majority investment in Discover Exploration Ltd. The equity investment of up to US$200 million over 3 years will fund existing operations as well as new opportunities. This is the first investment by Carlyle International Energy Partners (CIEP), a US$2.5 billion (+US$1.5 billion in co-investments) fund of The Carlyle Group that focuses on oil and gas Exploration & Production (E&P), midstream, oil field services and refining and marketing in Europe, Africa, Latin America and Asia.
The Carlyle Group is a global alternative asset manager with US$174 billion of assets under management across 306 investment vehicles (as of 30th September 2017). Carlyle's purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,550 people in 31 offices worldwide.
ONH B.V.To top
Discover's initial funding in November 2012 came from ONH B.V., the holding company of Oranje-Nassau Energie B.V. (ONE).
ONE is the largest privately owned Dutch E&P operating company. Following the successful acquisition of Dutch operator Cirrus and the operated shares of Royal Dutch Shell plc and ExxonMobil Corp. in Q16 (Netherlands) and the Sean license (UK), ONE is well positioned to expand its operated asset base with the ambition to become the Southern and Central North Sea operator of choice.
ONE is strategically positioned in some of the world's most exciting regions: North Sea (Netherlands and UK) and West Africa (Gabon); with 150 million barrels of oil equivalent ("boe") of reserves and 225 million boe of unrisked prospective resources. Average production in 2016 was 18,000 boe per day, increasing to 25,000 in 2017. ONE has c. 100 employees and is headquartered in Amsterdam, the Netherlands.
The Discover management team has a significant equity stake in the Company.