Investment size
$5-$50M
LTV/LTC
Up to 80-90%
Average term
1-3 years
Geography
North America
Strategy Description
Arena’s natural 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
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, TX
1st Lien Exit Term Loan Facility
$7.5 Million
December 2020
Private Oil and Gas Producer -- Houston, TX
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, TX
1st Lien Senior Secured Loan
$25 Million
February 2020
Private Oil and Gas Producer -- Shreveport, LA
1st Lien Senior Secured Loan
$4 Million
December 2019
Private Oil and Gas Producer -- New Orleans, LA
1st Lien Senior Secured Loan
$12 Million
October 2019
Structured Investment - Overriding Royalty Interests -- Houston, TX
Hard Asset
$8 Million
July 2019
Private Oil and Gas Producer -- New Orleans, LA
Debtor-in-Possession Loan
$5.8 Million
May 2019
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