The leading private equity company Avista Capital Partners have today announced that they are committing $50 million to Celtique Energie limited.

This funding is being put in place to develop prospects for natural gas and oil in some of the onshore basins around Europe and Africa. The money invested will primarily be used to fund Celtique’s exploration of these areas, and to expand their development activities. Celtique are looking to seek out and apply for licences for exploration in and around these onshore basins in the previous locations mentioned. The management team of Celtique believe very strongly that these areas harbour rich amounts of natural gases and oils. Once Celtique have the necessary licenses in place they will then take the exploration one step further and start to evaluate the areas for drilling purposes.

Avista fully expect a sizeable portion of their funds to go towards formation costs and creating the possibility of evaluating projects in Switzerland, France and Niger. There is also a probability that as these explorations get underway, more areas will be considered within these parameters for exploration. Avista are understood to be very excited to be at the forefront of increasing the availability of natural gases and oils the world over.