Riverstone acquiring majority of Centennial Resource
Energy-focused private investment firm Riverstone Energy announced on Thursday that it has signed an agreement, along with other funds associated with Riverstone Holdings, to acquire a majority stake in Centennial Resource Development from NGP Energy Capital and other related funds.
Equity Investment Instruments
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Riverstone Energy Limited
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The FTSE 250 company said Centennial is an exploration and production company focused on the acquisition and development of oil and liquids-rich natural gas resources in the Permian Delaware Basin, West Texas.
“The investment by REL is expected to comprise up to $175m depending upon approval for the transaction by the other Riverstone affiliated funds,” the firm’s board said in a statement.
Closing of the transaction is expected to occur in late September.