Investments

Resources

Arena invests broadly across the natural resources sector in a variety of instruments and business types.

Investment size

$5-$50M

LTV/LTC

Up to 80-90%

Average term

1-3 years

Geography

North America

Strategy Description

Arena’s resources finance platform originates and invests in secured, reserve-based loans for middle-market oil and natural gas exploration and production companies (including royalty and mineral aggregators). We also make asset-based and cash-flow-based loans to select resource-based businesses and infrastructure companies across midstream, downstream, agriculture, chemicals, metals and mining, power and utilities, and renewables industries throughout North America.

  • Oil & gas: upstream, midstream, downstream
  • Royalty and mineral aggregators
  • Precious metals
  • Agriculture
  • Chemicals
  • Metals & mining
  • Power & utilities
  • Renewables

Arena generally focuses on debt investment opportunities that do not typically attract the attention of conventional bank or commercial finance lenders.

Investment size

$5-$50M

LTV/LTC

Up to 80-90%

Average term

1-3 years

Geography

North America

Strategy Description

Arena’s resources finance platform originates and invests in secured, reserve-based loans for middle-market oil and natural gas exploration and production companies (including royalty and mineral aggregators). We also make asset-based and cash-flow-based loans to select resource-based businesses and infrastructure companies across midstream, downstream, agriculture, chemicals, metals and mining, power and utilities, and renewables industries throughout North America.

  • Oil & gas: upstream, midstream, downstream
  • Royalty and mineral aggregators
  • Precious metals
  • Agriculture
  • Chemicals
  • Metals & mining
  • Power & utilities
  • Renewables

Arena generally focuses on debt investment opportunities that do not typically attract the attention of conventional bank or commercial finance lenders.

Underwriting Ability

1st/2nd lien on producing assets, advance against PDP, PDNP, PUD, probable reserves, A/R, inventory, non-GAAP, special situations, cash flow, royalties, minerals

Sponsorship

Private equity sponsors, independent sponsors, and directly with management and owners of companies

Investment Structures

Acquisition and Development Financings: Recompletions, workovers, infill drilling, new horizons, asset acquisitions

Structured Investments: Convertible debt preferred equity, debt with warrants

Recapitalizations, Restructurings, and Exit Financings: Senior stretch, bridge loans, DIP loans, balance sheet repositioning

Leveraged and Management Buy-Outs

Fact Sheet

Contact

AGreg Whitez

Director, Natural Resources

Transactions

Geothermal Power Project in Alberta, Canada

1st Lien Senior Secured Loan

$10 Million

March 2022

Natural Resources

Equity Commitment

$10 Million

October 2021

Oil Refinery in the U.S. Virgin Islands

Super Priority Debtor-in-Possession Credit Facility

$25 Million

July 2021

Oil & Gas Producer in Calgary, Canada

1st Lien Senior Secured Loan

$10 Million

February 2021

Private Oil and Gas Producer -- Dallas, Texas

1st Lien Exit Term Loan Facility

$7.5 Million

December 2020

Private Oil and Gas Producer -- Houston, Texas

Debtor-in-Possession Credit Facility

$4.5 Million

September 2020

Private Oil and Gas Producer -- Houston, TX

1st Lien Senior Secured Loan

$24.8 Million

June 2020

Oil and Gas Producer - Houston, Texas

1st Lien Senior Secured Loan

$25 Million

February 2020

Amounts shown are for Arena Investors’ commitment or the global facility commitment where Arena Investors was leading the transaction, including in cases in which a joint venture partner of Arena Investors was involved, unless such amount of Arena Investors’ participation was less than 90% of the total, in which case only the Arena Investors commitment is included. In certain cases, amounts shown are inclusive of follow-on commitments and/or combine related transactions. Amounts may be indications that are different than actual funded amounts. This information is intended to be illustrative and is not an offer or a solicitation to invest. No representation is made about the attractiveness or performance of the transactions. This document and its contents are the proprietary information of Arena Investors and may not be reproduced or disseminated, in whole or in part, without Arena’s prior written consent.

Transactions

Geothermal Power Project in Alberta, Canada

1st Lien Senior Secured Loan

$10 Million

March 2022

Natural Resources

Equity Commitment

$10 Million

October 2021

Oil Refinery in the U.S. Virgin Islands

Super Priority Debtor-in-Possession Credit Facility

$25 Million

July 2021

Oil & Gas Producer in Calgary, Canada

1st Lien Senior Secured Loan

$10 Million

February 2021

Private Oil and Gas Producer -- Dallas, Texas

1st Lien Exit Term Loan Facility

$7.5 Million

December 2020

Private Oil and Gas Producer -- Houston, Texas

Debtor-in-Possession Credit Facility

$4.5 Million

September 2020

Private Oil and Gas Producer -- Houston, TX

1st Lien Senior Secured Loan

$24.8 Million

June 2020

Oil and Gas Producer - Houston, Texas

1st Lien Senior Secured Loan

$25 Million

February 2020

Amounts shown are for Arena Investors’ commitment or the global facility commitment where Arena Investors was leading the transaction, including in cases in which a joint venture partner of Arena Investors was involved, unless such amount of Arena Investors’ participation was less than 90% of the total, in which case only the Arena Investors commitment is included. In certain cases, amounts shown are inclusive of follow-on commitments and/or combine related transactions. Amounts may be indications that are different than actual funded amounts. This information is intended to be illustrative and is not an offer or a solicitation to invest. No representation is made about the attractiveness or performance of the transactions. This document and its contents are the proprietary information of Arena Investors and may not be reproduced or disseminated, in whole or in part, without Arena’s prior written consent.

Fact Sheet & Contact

AGreg Whitez

Director, Natural Resources