Riverstone Holdings LLC has committed to invest up to $200 million in Kerogen Energy Holdings LLC. With offices in Houston, Texas, and Calgary, Alberta, Kerogen is focused on onshore unconventional oil and liquids exploration and production in the United States and Canada.
Kerogen is led by chairman Dr. Alexander Kulpecz and president and CEO Murray Grigg. Since its formation in late 2010, the company has identified and completed the technical evaluations of proprietary liquids-rich shale plays in both the United States and Canada, has acquired initial leaseholds and is now positioned to expand its leasehold interests and drill key projects.
"We have been focused on shale oil exploration during an unprecedented time in the oil and gas industry. With Riverstone's equity commitment, we believe we have a great opportunity to build a highly successful shale oil company," said Dr. Kulpecz.
Founded in 2010 with the support of private investors, Kerogen Energy Holdings LLC is backed by equity commitments from Riverstone Holdings LLC and is focused on shale oil exploration in both the United States and Canada.