26th May 2015 06:45
LONDON (Alliance News) - Riverstone Holdings LLC on Tuesday said it has invested up to USD100 million in Texas-based upstream oil and gas investment vehicle Carrier Energy Partners II LLC.
Riverstone said USD67 million of the investment has been made via its Riverstone Global Energy and Power Fund VI, with USD33 million from Riverstone Energy Ltd, its FTSE 250-listed investment fund.
Riverstone Holdings invested in the first Carrier Energy Partners vehicle in 2013, which pursued the same strategy.
"We are excited to grow our relationship with the Carrier team as we execute on this non-operated oil and gas acquisition approach in today's environment. Carrier and Riverstone continue to observe an increasing need for non-operating working interest partners created by the significant capital requirements inherent to full-scale development of unconventional resources," said Riverstone Holdings Partner Robert Tichio.
By Sam Unsted; [email protected]; @SamUAtAlliance
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