Riverstone commits $200 mln to develop CIOC energy program
Canadian International Oil Corp (CIOC) has secured a $200 million commitment from U.S. energy-focused private equity firm Riverstone Holdings LLC. Two-thirds of the commitment will come from Riverstone Global Energy and Power Fund V LP, a US$7.7 billion partnership that was closed by the firm in 2013. Investment proceeds will be utilized for CIOC's property development program in the Western Canadian Deep Basin. Founded in 2010, the Calgary-based oil and gas company controls and operates a primary asset base of approximately 400,000 acres in West Central Alberta's Montney and Duvernay formations.
27 March 2014•3 mins read
