Riverstone Holdings Commits $250M to Dallas O&G Co.
In a successful move, Rover Petroleum, a newly formed Dallas-based oil and gas company, recently obtained $250 million in equity funding from the private equity firm Riverstone Holdings.
December 04, 2015 at 09:00 AM
3 minute read
With energy companies currently facing the challenging environment of lower oil and gas prices, they have to take an aggressive approach to obtaining financial backing in order to ensure that their business operations prosper.
In a successful move, Rover Petroleum, a newly formed Dallas-based oil and gas company, recently obtained sizable equity funding from the private equity firm Riverstone Holdings. An energy and power-focused private investment firm that was founded in 2000, Riverstone has offices in New York, London, Houston and Mexico City, and has over $30 billion of equity capital raised for investment purposes. Riverstone conducts buyout and growth capital investments in the exploration and production, midstream, oilfield services, power and renewable sectors of the global energy industry.
According to a recent announcement issued by Riverstone, the investment firm has made an equity commitment of up to $250 million to Rover from funds managed by Riverstone and additional amounts from the company's management team.
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