Riverstone Holdings invests up to $500 million in Three Rivers III

Three Rivers Natural Resource Holdings III LLC (Three Rivers III) – a newly formed, Austin, Texas-based oil and gas company – has secured an equity commitment of up to $500 million from funds managed by energy private equity firm Riverstone Holdings LLC and additional amounts from the company’s management team.

The Riverstone commitment comprises up to $333 million from Riverstone Global Energy and Power Fund VI and up to $167 million from Riverstone Energy Ltd.

Three Rivers III represents the third partnership between Riverstone and Three Rivers III’s management team after the sales of all of the assets of Three Rivers Natural Resource Holdings LLC (Three Rivers I) and Three Rivers Natural Resource Holdings II LLC (Three Rivers II).

The Three Rivers III team will continue to be led by Mike Wichterich, CEO and president. Similar to Riverstone’s two prior partnerships with Three Rivers III management, Three Rivers III will focus on oil and gas acquisition opportunities in the Permian Basin.  

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