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COMET RIDGE RESOURCES
Comet Ridge Resources was formed on July 26th, 2008 as a joint venture company between Comet Ridge Limited, LLC, an Australian listed oil and gas company, and the well respected US private equity firm, New York based, Pine Brook Road Partners, LLC.
Comet Ridge Limited contributed its US properties and its management team to the new company. In return it received a 43.75% equity interest in the new company. Pine Brook contributed cash and properties. Pine Brook can increase its equity interest in Comet Ridge Resources to 80% or more by spending additional capital on exploring and developing the US projects
The various projects are held under two subsidiaries of Comet Ridge Resources, namely St. Helens Energy, LLC which owns and operates the Grays Harbor project as well as a minority interest in the non-operated Chehalis Basin project in the State of Washington and Pine Ridge Oil & Gas, LLC which owns and operates the Florence project in Colorado.
Comet Ridge Resources controls both of its main projects through being the operator and maintaining high working interests in its projects.
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