West Valley Energy Corp. reported a new private oil and gas company formed to capture and develop scalable resource plays in Alberta, backed by Warburg Pincus and Kayne Anderson Energy Funds. The company will identify new or emerging oil projects with the potential for value creation through field extension and improved recovery.

Amar Pandila, Chief executive officer of West Valley, commented, "We have attracted financial partners Warburg Pincus and Kayne Anderson that possess extensive industry experience and market credibility. With our people, our strategic plan and strong financial support, we are well positioned to develop and grow our business."