7th Jul 2016 07:00
LONDON (Alliance News) - Resources sector investment fund Riverstone Energy Ltd on Thursday said it will take part in the acquisition of a majority stake in Centennial Resource Development LLC.
Riverstone Energy said it has signed an agreement with other funds affiliated to Riverstone Holdings, the investment firm which runs Riverstone Energy, to buy a majority stake in Centennial, an oil and gas explorer with assets in West Texas.
Riverstone Energy expects to make a USD175.0 million investment in the transaction, which is expected to close in late September.
By Sam Unsted; [email protected]; @SamUAtAlliance
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