Delonex Energy announces $600 million Warburg Pincus investment
NEW YORK – Delonex Energy, a new energy exploration and production company focused on Central and East Africa, today announced that an affiliate of Warburg Pincus, a global private equity firm focused on growth investing, has agreed to lead an investment of up to $600 million in the Company.
Delonex Energy is led by chief executive officer Rahul Dhir, the former CEO of Cairn India Limited, where he led the company from its inception through to its $2 billion IPO and ultimate sale to Vedanta Resources plc. Under Mr. Dhir’s leadership, Cairn India increased its market value to close to $13 billion, with an operated production of more than 200,000 boed. Mr. Dhir was also recently an Executive-In-Residence at Warburg Pincus, where he worked in close collaboration with the firm over the past several months to formulate Delonex’s business plan.
At Delonex, Mr. Dhir is joined by a team, including David Ginger, executive director of exploration and subsurface, who formerly led Cairn India’s exploration efforts in the Indian Sub-Continent.