Sierra Oil & Gas receives financial commitments

Offshore staff

MEXICO CITY – Sierra Oil & Gas S. de RL de CV, Mexico's first independent exploration and production (E&P) company, has secured equity commitments of $525 million. Headquartered in Mexico City, the company plans to participate in exploration, development, and production optimization opportunities made possible by Mexico's recent energy reforms. Additionally Sierra may consider opportunities in hydrocarbon transportation, storage, and processing.

Under the terms of the transaction, energy-focused private equity firms Riverstone Holdings LLC and EnCap Investments each have committed $225 million in funding. Infraestructura Institucional (I2), Mexico's largest infrastructure private equity firm, has also committed $75 million. All three investors retain the option to double their existing commitment once the initial equity has been deployed.

09/22/2014

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