Daily News: October 11, 2013

Riverstone Holdings Invests Up to $300M in Carrier Energy

Riverstone Holdings announced that it committed to invest up to $300 million in Carrier Energy Partners.

Carrier Energy CEO Mark Clemans said, “It is a privilege for us to continue our previous platform in oil and gas with Riverstone, a successful and knowledgeable investor in the energy industry. Carrier’s expertise lies in sound technical and financial evaluations of investment opportunities. We can be a reliable partner for operators focused on asset development and value creation in resource plays and other capital intensive basins.”

Pierre Lapeyre and David Leuschen, co-founders and partners of Riverstone, said, “Aligning with talented and highly experienced management teams is a core aspect of Riverstone’s investment strategy. We are excited to partner with Mark and Christina to deploy a non-operated oil and gas acquisition approach in today’s environment, in which Carrier and we observe a growing need for non-operating working interest partners created by the vast and growing capital requirements inherent to full-scale development of unconventional resources.”

Carrier Energy Partners is a private oil and gas company focused on the acquisition and exploitation of upstream assets. Backed with an equity commitment from Riverstone Holdings, its primary objective is to partner with select operators that are developing both unconventional and conventional reservoirs in North America.