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New Investment in Oil and Gas Exploration

New Investment in Oil and Gas Exploration

Riverstone Holdings, LLC announced on January 21, 2015 that they will invest up to C$465 million in CanEra Inc., a relatively new oil and gas exploration and production company based in Calgary that focuses mainly on the Western Canadian Sedimentary Basin. This is Riverstone and CanEra’s third partnership, led by Paul Charron and David Broshko.

 

“We are excited to establish a third partnership with Paul, David, and the rest of the CanEra III management team,” Riverstone partner Robert Tichio said. “Our significant equity commitment reflects the confidence that we continue to have in the CanEra III team, as well as the opportunity set we see in the Western Canadian Sedimentary Basin.”

 

Riverstone’s foundation mainly zeroes in on exploration and production, but is also readily involved in midstream sectors, power and coal, and renewable energy. This diversity puts Riverstone in a good position to uniquely benefit from the current American oil revolution coupled with the global dynamic and demand regarding energy.

 

Founded by David Leuschen, Riverstone Holdings has been a leader in the energy and power investment industry since its inception. With partnerships and investments totalling around $28 billion and spanning across North and Latin America, Europe, Africa and Asia, Riverstone has proven itself as a pioneer in this continuously needed and growing industry.

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