Riverstone Energy is investing up to $33m as part of a $100m investment in Carrier Energy Partners II LLC. Riverstone and Carrier II Management previously formed Carrier Energy Partners, LLC (“Carrier I”) in August 2013 to pursue the same strategy. Since then Carrier has participated in two joint ventures targeting development of oil and gas assets in the Delaware Basin and in a legacy conventional field located in South Texas. The additional Riverstone commitment comes at a time when demand for non-operating partner capital has increased. Carrier II can provide solutions for upstream oil and gas companies that have experienced significantly reduced cash flows and capital availability as a result of the industry’s energy price contraction.
Carrier II is led by its President and CEO, Mark Clemans, a professional engineer with over 25 years of experience in technical and financial evaluations through previous roles in operations, consulting, and investment banking at top tier oil and gas and financial services firms. In 2009, Mr. Clemans founded Carrier Petroleum, a company that assembled and managed a large portfolio of non-operated assets across several U.S. basins and plays to serve as a strategic investment for a Fortune 200 company.
RSE : Riverstone invests in Carrier Energy