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View all search resultsDanantara invests $250m in US oil producer HighPeak Energy
Indonesia’s publicly listed firm PT Energi Mega Persada, part of the Bakrie Group conglomerate, also joined the deal with a $200 million investment, bringing the total investment in the US company to $450 million.
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A woman walks past the Wisma Danantara Indonesia building on Aug. 11 on Jl. Jend. Gatot Subroto in South Jakarta. (JP/Iqro Rinaldi)
S
tate asset fund Danantara announced on Tuesday that it is investing US$250 million in United States-based oil and gas producer HighPeak Energy Inc. to expand its global energy portfolio and facilitate the transfer of technical knowledge to Indonesian workers.
The investment, made through Danantara Investment Management (DIM), will be carried out through the staged issuance of convertible preferred stock in HighPeak, a Texas-based company focused on acquiring, developing, exploring and producing oil and gas in the Permian Basin.
The investment will give DIM strategic access to HighPeak’s oil-focused assets in the Permian Basin, the largest oil-producing region in the US.
Indonesia’s publicly listed firm PT Energi Mega Persada, part of the Bakrie Group conglomerate, also joined the deal with a $200 million investment, bringing the total investment in the US company to $450 million.
HighPeak will use the funds to strengthen its capital structure and financial flexibility, supporting the continued development of its assets and expansion of its drilling program.
Read also: Danantara dividends not factored into state budget, Suahasil says
DIM chief executive Pandu Sjahrir said that the investment was intended to deliver sustainable long-term returns while supporting Indonesia’s national interests.
