Banpu : Trusted by Oaktree, a World-Class Fund Management Company, with an Investment of USD100 Million in Preferred Stock for Its Natural Gas Business, Enhancing Its Potential for Continuous and Sustainable Growth under the Greener & Smarter Strategy
December 18, 2020 at 12:17 am EST
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Banpu Public Company Limited revealed that on 16 December 2020, Oaktree Capital Management L.P. ('Oaktree'), a leading global investment management firm, invested USD 100 million in preferred stock in BKV Corporation (BKV), an affiliate of Banpu where the company holds 96.30 percent shares. The investment will enhance Banpu's potential in natural gas business expansion in the U.S., paving way for a continuous and sustainable growth under the Greener & Smarter strategy.
Mrs. Somruedee Chaimongkol, Chief Executive Officer of Banpu Public Company Limited, said that 'The strategic partnership is a milestone in expanding the natural gas business in the U.S.. Oaktree's investment in BKV will accelerate the Company's aim to become a leader in technology-driven natural gas exploration and production or E&P, in line with Banpu's commitment in expanding the natural gas business in the U.S. for a continuous and sustainable growth. The partnership also reinforces Banpu's image a trusted international versatile energy provider, who firmly operates its business with ESG and drives its growth with the Greener & Smarter strategy, to its global business partners.'
Banpu's investment in the natural gas business is a part of its Greener & Smarter strategy, which focuses on the investment to expand its clean energy portfolio, embrace the energy transition in future and meet the increasing demands for natural gas in the U.S.. Banpu continues to explore investment opportunities in the business in order to encourage a significant increase in the EBITDA contribution from the natural gas business under the Company's portfolio with the goal to generate steady and continuous returns for its stakeholders.
Currently, Banpu's two natural gas operations combined has a production capacity of approximately 700 Million Cubic Feet Equivalent Per Day (MMcfed) with the proven reserves (1P) of approximately 4 Trillion Cubic Feet Equivalent (Tcfe). The figure puts Banpu with the top 20 biggest gas producers in the U.S..
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About Banpu
Banpu Public Company Limited is an international versatile energy provider with 3 core groups of businesses; energy resources, energy generation and energy technology in 10 countries: Thailand, Indonesia, China, Australia, Lao PDR, Mongolia, Singapore, Japan, the United States of America and Vietnam. As of 30 September 2020, Banpu's assets totaled USD 8.747 billion, an increase of USD 678 million compared to the total assets as of 31 December 2019.
For more information, please contact Banpu Communications Team:
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Banpu pcl published this content on 18 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 December 2020 05:14:00 UTC
Banpu Public Company Limited is a Thailand-based company, which operates three core business, such as energy resources, energy generation and energy technology. The Company's Energy Resources segment operates in coal sales and production, both domestically and overseas. This segment also operates in gas production in the United States. The Energy Generation segment operates in electricity generation, which consists of thermal and renewable energy both domestically and overseas. The Energy Technology segment operations comprise of solar rooftop, electric vehicle, energy storage, and energy management systems. It has natural gas production of approximately 700 million cubic feet per day (MMcfed). It has eight thermal operating power plants. It offers renewable power generation solutions from 22 operating solar power plants and two projects and two wind power plants. It has operations in Thailand and overseas, mainly in Indonesia, the People's Republic of China, and the United States.
Banpu : Trusted by Oaktree, a World-Class Fund Management Company, with an Investment of USD100 Million in Preferred Stock for Its Natural Gas Business, Enhancing Its Potential for Continuous and Sustainable Growth under the Greener & Smarter Strategy