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Riverstone Energy to invest $175m in Centennial Resource Development

Riverstone Energy has announced that it has signed an agreement, alongside other funds affiliated with Riverstone Holdings, LLC, to acquire a majority stake in Centennial Resource Development LLC from NGP Energy Capital and certain other related coinvestment funds. 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 Riverstone Energy is expected to comprise up to US$175m depending upon approval for the transaction by the other Riverstone affiliated funds. The company says that the transaction is expected to close in late September 2016.

Riverstone Energy to invest $175m in Centennial Resource Development : REL

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