Three Rivers Natural Resource Holdings III LLC (Three Rivers III) received an equity commitment of up to $500 million from funds managed by private-equity firm Riverstone Holdings LLC, the company said April 9. Its management team provided additional equity, Three Rivers added.
Riverstone Global Energy and Power Fund VI provided up to $333 million, and Riverstone Energy Ltd. provided up to $167 million, the company added.
This is the third partnership between Riverstone and Three Rivers. Previously, Three Rivers Natural Resource Holdings LLC and Three Rivers Natural Resource Holdings II LLC had their assets sold.
Three Rivers III is led by Mike Wichterich, CEO and president. The company will remain focused on Permian Basin oil and natural gas acquisitions.
Riverstone Holdings LLC is based in New York.
Three Rivers Natural Resource Holdings III LLC is based in Austin, Texas.
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