Osum Oil Sands Corp. is a Calgary, Alberta-based oil exploration and production company focused on developing oil sands projects in both the Cold Lake and Grosmont carbonates (Saleski) regions of Northern Alberta. Since Warburg Pincus’s initial investment in 2008, the company has advanced the development of its properties, which are estimated to contain between 3.5 to 4 billion barrels of recoverable resource, which could sustain production of up to 250,000 barrels of oil per day for 30 to 40 years. The management team is led by CEO Steve Spence, who has extensive senior management experience in conventional and unconventional resource developments including thermal heavy oil and other enhanced oil recovery techniques. Warburg Pincus led an equity financing into Osum in August 2008 and made a follow-on investment in 2012.
Warburg Pincus is a leading global private equity firm focused on thesis-driven growth investing at scale. With more than $53 billion in assets under management, our active portfolio of more than 185 companies is highly diversified by stage, sector and geography. As an experienced partner to outstanding management teams, we help build durable companies with sustainable value. We have raised 19 private equity funds, which have invested more than $84 billion in over 900 companies in more than 40 countries.