Waterous fund buying Northern Blizzard stake

Waterous Energy Fund has agreed to buy two thirds of Northern Blizzard Resources Inc., Calgary, from two private-equity funds for a reported $244 million (Can.).

Waterous Energy Fund has agreed to buy two thirds of Northern Blizzard Resources Inc., Calgary, from two private-equity funds for a reported $244 million (Can.).

Northern Blizzard holds 200,000 net acres in several heavy-oil plays along the Alberta-Saskatchewan border, mostly in Saskatchewan.

The buyer was founded earlier this year by Adam Waterous, former head of global investment at Bank of Nova Scotia.

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