Carnelian Energy Capital-backed Parallax Energy completed the acquisition of Vesta Energy.

Carnelian Energy Capital-backed Parallax Energy, an upstream exploration and production company, completed the acquisition of Vesta Energy, an oil and gas company. Financial terms were not disclosed. “We are excited to close the acquisition of Vesta. We now control among the largest inventories of low-breakeven Duvernay oil locations, with recent completion advancements underpinning some of the highest returns in the WCSB. With a fully capitalized and growth driven mindset, we look to pair an accelerated organic development program with a runway of strategic consolidation opportunities," Dustin Hoffman, Parallax CEO.