Eagle Energy Exploration LLC has reported an equity commitment of up to $300 million from energy private equity firm Riverstone Holdings LLC. The Riverstone commitment comprises up to $200 million from Riverstone Global Energy and Power Fund V and up to $100 million from Riverstone Energy Ltd.
Eagle will pursue oil and gas exploration and production opportunities in the Mid-Continent region of the US, leveraging its deep operating experience in the region and building on its prior success accumulating, delineating, and developing acreage in the Mississippi Lime shale play.
This venture represents the second partnership between Riverstone and Eagle. The team previously partnered to build a substantial position in the horizontal Mississippi Lime trend, becoming one of the largest producers in the play prior to selling to Midstates Petroleum Co. Inc. in October 2012.