Sierra Oil & Gas reports commitment of $525 million

Sierra Oil & Gas S. de RL de CV

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.

The company plans to participate in exploration, development, and production optimization opportunities made possible by Mexico's recent energy reform. 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 have each committed $225 million in funding and Infraestructura Institucional (I2), Mexico's largest infrastructure private equity firm has committed $75 million. All three investors retain the option to double their existing commitment once the initial equity has been deployed.

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