* $500 million line of equity financing by Warburg Pincus
* Looking at mid-life producing assets
* Sees potential in SEA especially Indonesia, Thailand and
By Jessica Jaganathan
SINGAPORE, Dec 28 Private equity-backed Trident
Energy will scour for oil and gas assets in Southeast Asia, with
a focus on mid-life producing assets that can be redeveloped to
create value, a senior executive told Reuters.
Set up by former senior executives of independent
Anglo-French oil firm Perenco in September, the London-based
firm is looking to acquire onshore and offshore assets primarily
in Africa, Latin America and Southeast Asia.
"We believe there is a big mid-life assets potential in
Southeast Asia, mostly in Indonesia, Thailand and Malaysia and
also in Brunei, Vietnam and the Philippines ... so it's a good
time to invest," said Thibault d'Argent, Trident Energy's new
"We're looking at fields producing more than 15,000
barrels-per-day and with more than 50 million barrels of
The company has yet to make any acquisitions but is looking
mainly at developed assets where wells have been drilled but
production is declining. It aims to stabilise and optimise
output and then resell the assets within 5 to 10 years, he said.
U.S.-based private equity firm Warburg Pincus LLC led a line
of equity financing of up to $500 million to Trident this year
and the firm is in talks with a sovereign fund to secure more
funding, d'Argent said, declining to give more details.
Trident Energy is one of many private-equity backed
companies eyeing energy assets in Southeast Asia as a prolonged
bout of lower crude oil prices has driven oil majors hungry for
cash to divest or seek additional funds.
Management staff at Trident Energy include Perenco's former
chief executive Jean-Michel Jacoulot and Perenco's former chief
financial officer Eric Descourtieux.
(Reporting by Jessica Jaganathan; Editing by Richard Pullin)