Riverstone commits up to $300 million to Meritage III

Meritage Midstream Services III LP (Meritage III), a newly formed, Denver, Colorado-based midstream partnership, has received an equity commitment of up to $300 million from funds managed by energy private equity firm Riverstone Holdings LLC to pursue midstream opportunities in Western Canada's emerging resource plays. The initial Riverstone commitment of $100 million includes $67 million from Riverstone Global Energy and Power Fund VI and $33 million from Riverstone Energy Ltd.

Meritage III is led by Chairman and CEO Steven B. Huckaby and President Nicholas O. Thomas, who have established and led multiple midstream entities, including Meritage Midstream Services II LLC (Meritage II), an existing Riverstone Global Energy and Power Fund V investment. Meritage II provides oil and gas producers in the Powder River Basin with a full range of midstream services including natural gas gathering, compression, treating, and processing; NGL treating and transportation; and crude oil gathering, handling, and transportation. 

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