Carlyle Group backs former Cove team


Issue 268 - 20 Dec 2013 | 1 minute read

US-based asset management firm The Carlyle Group has committed up to $200m of equity capital in Discover Exploration, a new oil and gas exploration company led by the former Cove Energy management team. London-based Discover said the investment would enable it to participate in an immediate two-well deep-water drilling programme in the Taranaki and Canterbury basins offshore New Zealand, and to fund an exploration programme in the Comoros Islands. This is the first investment by Carlyle International Energy Partners, a fund that focuses on oil and gas exploration and production, midstream, oil field services and refining and marketing in Europe, Africa, Latin America and Asia.

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