Carlyle Pledges $200M To Energy Outfit Run By Ex-Cove Execs

Law360, New York (December 16, 2013, 12:21 PM EST) -- Private equity heavyweight The Carlyle Group LP has committed up to $200 million in equity to Discover Exploration Ltd., an oil and gas upstart helmed by the same team that led Cove Energy PLC to its $1.9 billion sale last year, the firm said Monday.

The equity funding, to be provided in phases over the next three years, will support Discover's plans to immediately get in on a two-well, deepwater drilling program off New Zealand's coast. It will also back separate offshore exploration plans in waters...
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