RSE : Riverstone Energy invests $100m in new Canadian oil & gas company
Riverstone Holdings, associated funds, a Middle Eastern Sovereign Wealth Fund and Grafton Asset Management are investing $675m into a new oil & gas company based in Calgary – Canadian Non-Operated Resources LP (CNOR). Riverstone Energy is stumping up $100m of this.
CNOR is headed by Richard Grafton (founder of Grafton Asset Management and FirstEnergy Capital – an independent, energy-focused, investment bank). CNOR will seek to partner firms that have oil & gas assets in the Western Canadian Sedimentary Basin but are short of funds to exploit these.