From Bakken to Haynesville: Riverbend Sells Nonop Assets for $1.8 Billion

Riverbend Energy Group had assembled the nonop acreage since 2016 through three funds; it retains assets in the Permian’s southern Midland Basin.

From Bakken to Haynesville: Riverbend Sells Nonop Assets for $1.8 Billion

The transaction announced on June 15 would represent a successful and complete monetization of three of Riverbend Energy Group’s five active traditional energy portfolios, the company said in a news release. (Source: Riverbend Energy Group)

Riverbend Energy Group said June 15 it had agreed to sell nonoperated assets in multiple shale plays including the Bakken and Haynesville for total consideration of $1.8 billion.

Riverbend, based in Houston, said the deal would include affiliates Riverbend Oil & Gas VI, VI-B and VIII. The assets produce an average of 47,000 boe/d from 11,000 wells. In addition to the Williston Basin and Haynesville, Riverbend’s portfolio companies are also selling interests in the Utica and Fayetteville shales.

On March 29, Riverbend reported that its ROG VI LLC held more than $1 billion in assets under management from pooled investment vehicles, according to SEC filings.

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Darren Barbee

Darren Barbee is senior editor for Oil and Gas Investor magazine.