Riverstone, NGP to invest up to $465 mln in third CanEra initiative
U.S. private equity firms Riverstone Holdings and NGP Energy Capital Management have made an equity investment in CanEra Inc, a newly formed Calgary-based oil and gas company. Riverstone, NGP and the company's management team will commit up to $465 million in CanEra, with Riverstone committing $225 million of the total. CanEra is led by chairman and CEO Paul Charron, who previously led CanEra Resources Inc and CanEra Energy Corp, both of which were also backed by Riverstone. CanEra Energy was acquired in 2014 by Crescent Point Energy Corp. The new business will focus on acquiring and exploring large deposits in the Western Canadian Sedimentary Basin.
28 January 2015•3 mins read
