Tenaz Energy Corp. (TSX: TNZ) is a public energy company focused on the acquisition and sustainable development of international oil and gas assets capable of returning free cash flow to shareholders.

Tenaz has domestic operations in Canada along with offshore gas assets in the Netherlands. The domestic operations consist of a semi-conventional oil project in the Rex member of the Upper Mannville group at Leduc-Woodbend in central Alberta. The Netherlands gas assets are located in the Dutch sector of the North Sea. Tenaz also has an ownership interest in Noordgastransport B.V. which holds one of the largest gas gathering and processing networks in the Dutch North Sea.

K12-B Photographer: Ulf Sjöqvist

Our Vision

Apply technical and commercial capabilities in M&A to build a leading intermediate-size E&P

  • Combine technically focused evaluation and operating capabilities with international sourcing and negotiation experience

  • Full range of technical, commercial and leadership competencies to execute strategy

  • Record of accretive acquisitions, new country entries and successful optimization of upstream assets

Acquire-and-exploit using conventional and semi-conventional assets in overseas markets

  • “Wide funnel” geographic approach to asset screening, followed by selection of highest-return opportunities

  • Acquisitions will be anchored by conventional projects, with the additional capability to recognize semi-conventional potential in overseas regions

Prioritize free cash flow generation to support a balanced growth-and-income model

  • Targeting unoptimized and underfunded assets that can generate free cash flow at an early stage

  • Cornerstone acquisition(s) will drive regional focus, followed by consolidation to build economies of scale

Targeting Assets in Europe, MENA and South America

  • The Tenaz team has experience globally within targeted regions of focus (dark blue) including Europe, MENA and South America, with additional experience in countries outside of focus areas (light blue)

Investment Summary

Deep Value in International Market

Sizeable market opportunity with international acquire-and-exploit strategy

  • Attractive value at entry plus significant opportunity for operating improvement

  • Targeted approach: focus on Europe-MENA, with competence to assess other regions if high-return opportunities arise

Experienced Management Team with Clear Strategy

Technically-focused, hands-on management with record of value-adding M&A and follow-on operations

  • Over US$6 billion of experience in closed transactions

  • Team has history of successfully executing each element of our strategy

Highly Aligned Team Focused on Shareholder Returns

Tenaz team knows alignment is vital

  • Management investment in recapitalization transaction alongside foundation investors

  • Demonstrated capability to execute growth-and-income model using international assets