Riverstone in $200m shale deal

Riverstone Holdings continued its recent spate of activity with a $200m investment in Kerogen Energy Holdings, a shale gas exploration company located in Houston and Calgary.

Riverstone Holdings has committed to invest up to $200 million in shale gas company Kerogen Energy Holdings, the firm announced in a statement. 

Kerogen, which has offices in Houston and Calgary, specialises in shale oil exploration and production. The company was founded in 2010 and has already completed technical evaluations of liquid shale investments in both the US and Canada. 

Riverstone could not be reached for comment at press time.

The firm has been extremely active over the last few months, completing at least eight deals through its fifth flagship fund – its first independent vehicle since concluding its relationship with The Carlyle Group last year. It is unclear whether this deal was completed through Riverstone Global Energy and Power Fund V, which had raised at least $5 billion on a $6 billion target as of this summer. 

Earlier this month, Riverstone partnered with Kaiser Midstream to invest $500 million in Sage Midstream, a newly formed North American natural gas gathering, transporting and processing company. In August, the firm invested an undisclosed amount in upstream oil and gas company Three Rivers Natural Resource Holdings less than a month after making a $500 investment in Meritage Midstream Services II. 

Riverstone was founded in 2000 by David Leuschen and Pierre Lapeyre and has around $22 billion in assets under management. The firm specialises in the energy and power sectors.