Riverstone's CNOR closes $500 mln purchase of Peace River High stake
Canadian Non-Operated Resources Corp (CNOR) has closed its previously announced joint venture with Tourmaline Oil Corp, which gives CNOR a 25 percent working interest in Tourmaline's Peace River High oil project in Alberta. Under the terms of the partnership, CNOR paid $500 million for its stake in project's complex of lands, wells, production, reserves and facilities. A Calgary-based oil and gas startup, CNOR was founded last August with a $675 million equity commitment, $300 million of which was committed by U.S. private equity firm Riverstone Holdings.
6 January 2015•3 mins read
