Private equity firm KKR & Co is looking to offload Canadian oil and gas producer Westbrick Energy Ltd in a potential deal valued at between $1.13 billion and $1.5 billion, according to a report by Reuters.

The report cutes unnamed sources as revealing that majority owner KKR is looking to find a buyer by the end of the year, one of the sources said, but that it could also hold on to Westbrick should it fail to find a suitable buyer.

KKR has owned Westbrick for a decade, investing CAD250 million in the company when it was a smaller producer back in 2012.

Read more: Private Equity Wire