Resources

Investment Size

$5M - $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) and asset-based and cash-flow-based loans for select natural resource based businesses and infrastructure companies across midstream, downstream, agriculture, chemicals, metals and mining, power and utilities, and renewables industries located 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

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