Tenaz Energy Corp. (TSX: TNZ) is a public energy company focused on the acquisition and sustainable development of international oil and gas assets capable of returning free cash flow to shareholders.
Tenaz has domestic operations in Canada along with offshore gas assets in the Netherlands. The domestic operations consist of a semi-conventional oil project in the Rex member of the Upper Mannville group at Leduc-Woodbend in central Alberta. The Netherlands gas assets are located in the Dutch sector of the North Sea. Tenaz also has an ownership interest in Noordgastransport B.V. which holds one of the largest gas gathering and processing networks in the Dutch North Sea.
K12-B Photographer: Ulf Sjöqvist
Our Vision
Apply technical and commercial capabilities in M&A to build a leading intermediate-size E&P
Combine technically focused evaluation and operating capabilities with international sourcing and negotiation experience
Full range of technical, commercial and leadership competencies to execute strategy
Record of accretive acquisitions, new country entries and successful optimization of upstream assets
Acquire-and-exploit using conventional and semi-conventional assets in overseas markets
“Wide funnel” geographic approach to asset screening, followed by selection of highest-return opportunities
Acquisitions will be anchored by conventional projects, with the additional capability to recognize semi-conventional potential in overseas regions
Prioritize free cash flow generation to support a balanced growth-and-income model
Targeting unoptimized and underfunded assets that can generate free cash flow at an early stage
Cornerstone acquisition(s) will drive regional focus, followed by consolidation to build economies of scale
Targeting Assets in Europe, MENA and South America
The Tenaz team has experience globally within targeted regions of focus (dark blue) including Europe, MENA and South America, with additional experience in countries outside of focus areas (light blue)
Investment Summary
Deep Value in International Market
Sizeable market opportunity with international acquire-and-exploit strategy
Attractive value at entry plus significant opportunity for operating improvement
Targeted approach: focus on Europe-MENA, with competence to assess other regions if high-return opportunities arise
Experienced Management Team with Clear Strategy
Technically-focused, hands-on management with record of value-adding M&A and follow-on operations
Over US$6 billion of experience in closed transactions
Team has history of successfully executing each element of our strategy
Highly Aligned Team Focused on Shareholder Returns
Tenaz team knows alignment is vital
Management investment in recapitalization transaction alongside foundation investors
Demonstrated capability to execute growth-and-income model using international assets