Denver, Colorado – June 9, 2011 – Great Western Oil & Gas Company, LLC, which is wholly owned by Northern Colorado Oil and Gas Holdings, LLC, closed $62 million in debt financing from DB Energy Trading, LLC a subsidiary of Deutsche Bank Americas Holding Corp. The new debt, which replaces Macquarie Bank Limited’s existing facility, was secured using a prepaid swap of oil and gas. The proceeds will allow acquisition of new mineral leases and fund ongoing operations.
Great Western Oil & Gas Company, LLC is an independent oil and gas production company headquartered in Denver. Its operations are focused on developmental drilling, and corporate and property acquisitions in the Rocky Mountain region of North America.
Great Western Oil & Gas Company is sponsored by The Broe Group, a Denver-based private investment firm focusing on real estate, transportation and energy.