Waterous Energy Fund Closes $1.4-Billion Oil and Gas Fund, Focusing on Alberta Oil Sands Acquisitions.

Waterous Energy Fund has closed its third private equity fund with $1.4-billion of capital for acquisitions in Alberta's oil sands. The fund will focus on consolidating oil and gas properties in the Athabasca region, initially backing expansion at Greenfire Resources Ltd. WEF's backers include insurance companies, banks, asset managers, and family offices. The investment marks a vote of confidence in the domestic energy industry and follows a trend of foreign energy companies exiting the oil sands.