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In this July 27, 2011, file photo, a pair of workers are behind the top of a pump where the hydraulic fracturing process in the Marcellus Shale layer to release natural gas is underway at a Range Resources site in Claysville, Pa.
In this July 27, 2011, file photo, a pair of workers are behind the top of a pump where the hydraulic fracturing process in the Marcellus Shale layer to release natural gas is underway at a Range Resources site in Claysville, Pa.
(Keith Srakocic/AP)

Natural gas darling pulls off $250-million financing

Maybe being a natural gas producer isn’t so bad after all.

Despite the problems plaguing big players like Encana Corp. and Talisman Energy Inc., Seven Generations Energy Ltd. is giving investors reason to be optimistic, pulling off a big $250-million financing.

Until now the privately held company didn’t receive much attention. Founded in 2008, Seven Generations quietly put its business together and talked to private equity players. That’s quickly changing. Last year the company raised money at $11 per share. The new deal is priced at $25 per share, meaning the private stock price has more than doubled in twelve months. The company’s market capitalization is now above $2-billion.