Share “Ontario pension fund buys stake in...”

Ontario pension fund buys stake in Chaparral Energy Inc. of Oklahoma City

by Adam Wilmoth Published: March 26, 2014
Advertisement

The Healthcare of Ontario Pension Plan is the new owner of a 20 percent stake in Chaparral Energy Inc., the Oklahoma City-based oil and natural gas producer confirmed Tuesday.

The pension plan in January bought the stake from Chesapeake Energy Corp. for $215 million. The local companies previously disclosed the sale, but not the new owner.

The full information was included in a lawsuit filed earlier this month by a New York investment firm that claims it should have received a finder’s fee for the sale.

Chaparral Chief Financial Officer Joe Evans said the Canadian pension fund is a good fit for Chaparral.

“We are very pleased to have them as a shareholder,” Evans told The Oklahoman on Tuesday. “They are very supportive of the company and are long-term investors, whether we are public or private. They are impressed with the asset base we have and have said they are a long-term player.”

Chaparral has said for several years that it plans to become publicly traded. Most recently, the company has said it is eying an initial public offering, possibly this fall.

Continue reading this story on the...

by Adam Wilmoth
Energy Editor
Adam Wilmoth returned to The Oklahoman as energy editor in 2012 after working for four years in public relations. He previously spent seven years as a business reporter at The Oklahoman, including five years covering the state's energy sector....
+ show more


AROUND THE WEB

  1. 1
    Ben Stoller, an 11-year-old golfer from Owasso, will compete in national event this weekend at...
  2. 2
    Tulsa couple jailed after threatening, shooting at guests inside home
  3. 3
    Stillwater councilors say energy lobbyists gave ultimatum on drilling-ordinance vote
  4. 4
    ConocoPhillips estimates Bartlesville layoffs at less than 4 percent of workforce
  5. 5
    Facebook MLB fan map shows Rangers, Cardinals rule Oklahoma
+ show more