10th Apr 2015 06:50
LONDON (Alliance News) - Riverstone Energy Ltd on Friday said it will be among the investors committing funding to the Meritage Midstream Services III LP, a Canadian midstream oil services company.
Riverstone Holdings LLC, the fund manager for FTSE 250-listed Riverstone Energy will commit USD100 million to Meritage, comprising USD67 million from the Riverstone Global Energy and Power Fund VI and USD33 million from Riverstone Energy Ltd.
Riverstone Holdings has the option to invest an additional USD200 million to Meritage.
"We are excited to continue the Riverstone/Meritage partnership and look forward to Meritage's continued success in the midstream industry," said Riverstone Holdings partner Baran Tekkora.
By Sam Unsted; [email protected]; @SamUAtAlliance
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