Riverstone commits up to $250 million to the Dallas-based oil and gas company.
On November 30, Willkie client Riverstone Holdings announced that Rover Petroleum, a newly formed, Dallas-based oil and gas company, has received an equity commitment of up to $250 million from Riverstone. Rover will pursue a strategy of acquisition and development of conventional oil assets in North America, concentrating on opportunities within the Texas and Oklahoma region.
Riverstone is an energy- and power-focused private investment firm with $32 billion of capital raised to date. Riverstone conducts buyout and growth capital investments in the exploration & production, midstream, oilfield services, power and renewable sectors of the global energy industry.
The deal was handled by partners Bruce Herzog, Michael De Voe Piazza, Hillel Jacobson and Mark Holdsworth; and associates Clay Brett and Ryan Stott.