Warburg Returns To Norway Offshore Biz With $150M Deal

Law360, New York (October 6, 2011, 1:11 PM EDT) -- Warburg Pincus LLC added a $150 million investment in Explora Petroleum AS to its sizable energy portfolio, the New York-based private equity firm said Thursday, buying into the brand-new Norwegian offshore oil and gas explorer's long-term strategy.

Warburg Pincus, which counts more than 20 energy companies among its portfolio businesses, said Explora Petroleum's top management, including CEO John Pickard, had the experience to find valuable assets offshore on Norway's continental shelf. 

The firm should know. It took one Norwegian offshore energy exploration company, Trondheim-based high-tech surveyor...
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