|By PR Newswire||
|December 13, 2013 06:53 AM EST||
TULSA, Okla. and NEW YORK and LONDON, Dec. 13, 2013 /PRNewswire/ -- Eagle Energy Exploration, LLC ("Eagle") announced today an equity commitment of up to $300 million from energy private equity firm Riverstone Holdings LLC ("Riverstone"). The Riverstone commitment comprises up to $200 million from Riverstone Global Energy and Power Fund V ("Fund V") and up to $100 million from Riverstone Energy Limited ("REL"). Eagle will pursue oil and gas exploration and production opportunities in the Mid-Continent region of the United States, leveraging its deep operating experience in the region and building on its prior success accumulating, delineating and developing acreage in the Mississippi Lime.
This venture represents the second partnership between Riverstone and Eagle management, led by Steve Antry (CEO and Chairman), Michael O'Kelley (President and COO) and Ben Kemendo (CFO). The team previously partnered to build a substantial position in the horizontal Mississippi Lime trend, becoming one of the largest producers in the play prior to selling to Midstates Petroleum Company, Inc. in October 2012.
Steve Antry, CEO and Chairman of the Board of Eagle, commented, "We are excited to be partnering again with Riverstone and look forward to building another significant Mid-Continent based energy company with them. We plan to continue to be a major player in the Oklahoma oil and gas community."
Pierre Lapeyre and David Leuschen, Co-Founders of Riverstone, said, "Our significant equity commitment to Eagle reflects our confidence in Steve and the team he has assembled, as well as the opportunity set we see in the Mid-Continent region. We achieved an outstanding result in our previous venture and are excited to be working together again with a similar focus."
About Riverstone Holdings LLC
Riverstone is an energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with approximately $27 billion of equity capital raised. Riverstone conducts buyout and growth capital investments in the exploration & production, midstream, oilfield services, power and renewable sectors of the energy industry. With offices in New York, London and Houston, the firm has committed approximately $24.9 billion to 105 investments in North America, Latin America, Europe, Africa and Asia. For more information, visit www.riverstonellc.com.
About Riverstone Energy Limited
REL is a closed-ended investment company that invests exclusively in the global energy industry, with a particular focus on the exploration & production and midstream sectors. The company is well positioned to take advantage of, and benefit from, the large number of investment opportunities being driven by continued global energy demand, including the North American energy revolution. REL aims to capitalize on the opportunities presented by Riverstone's pipeline of investment opportunities and is listed on the London Stock Exchange, trading under the symbol RSE.
For Eagle Energy Exploration, LLC:
For Riverstone Holdings LLC:
James David or Jeffrey Taufield
Kekst and Company
SOURCE Eagle Energy Exploration, LLC