- CEO
- Susan L. Riddell Rose
- Full Time Employees
- 46
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- 605 – 5 Avenue SW Calgary AB Canada T2P 3H5
- IPO Date
- Sep 23, 2021
- Business
- Rubellite Energy Corp. (TSX: RBY) is a Calgary-based Canadian energy company engaged in the exploration, development, production and marketing of heavy crude oil from the Clearwater Formation and Mannville Stack in Eastern Alberta, utilizing multi-lateral drilling technology; it also holds liquids-rich conventional natural gas assets in the deep basin of West Central Alberta and undeveloped bitumen leases in Northern Alberta. The company operates key properties including Ukalta, Figure Lake, Marten Hills and Frog Lake, targeting production growth through a defined inventory of over 355 net development and step-out locations. Rubellite Energy Corp. was incorporated in September 2021 through a plan of arrangement by Perpetual Energy Inc. and is headquartered at 3200, 605 – 5th Avenue SW, Calgary, Alberta, Canada.
In August 2024, the company acquired Buffalo Mission Energy Corp., adding strategic Mannville Stack heavy oil assets to enhance its Clearwater portfolio and advancing its growth, consolidation and portfolio enhancement strategy. On October 31, 2024, Rubellite Energy Inc. completed a strategic recombination transaction with Perpetual Energy Inc. through an all-share plan of arrangement, creating the enlarged Rubellite Energy Corp. with improved scale, access to a $140 million syndicated credit facility, a $20 million term loan and material synergies including lower G&A costs and over $550 million in tax pools. The company expanded its credit facility to $60 million in June 2024 and continues a fully-funded drilling program targeting 10-15% annual production growth through 2028, supported by ongoing operations reported in Q2 2025 results showing record production and adjusted funds flow per share.