18th Sep 2014 16:18
LONDON (Alliance News) - Riverstone Energy Ltd Thursday said it has committed USD225 million to Sierra Oil & Gas S de RL de CV, Mexico's first independent exploration and production company.
The investment comprises USD150 million from Riverstone Global Energy and Power Fund V and USD75 million from Riverstone Energy Ltd.
Alongside Riverstone's investment, EnCap Investments and Mexico's Infraestructura Institucional have also committed USD225 million and USD75 million respectively, for a total equity contribution of USD525 million.
All three investors retain the option to double their existing commitment once the initial equity has been fully invested, the company said.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Riverstone Energy