Canadian Non-Operated Resources nets $675 mln from Riverstone-led investors
Canadian Non-Operated Resources LP (CNOR), a newly founded Calgary oil and gas company, has secured an equity investment totaling $675 million. The deal includes a $300 million investment from U.S. resource-focused private equity firm Riverstone Holdings, with supplementary amounts coming from an unnamed Middle Eastern sovereign wealth fund, Canadian energy investment firm Grafton Asset Management Inc, and CNOR's management team. Led by Richard Grafton, founder and CEO of Grafton, who has launched multiple Calgary-based energy investments, the company will pursue partnerships with top-tier operators to develop oil and gas assets in the Western Canadian Sedimentary Basin.
12 August 2014•4 mins read
