News Column

Riverstone Energy Funds Commit USD200 Million To Castex Energy

September 4, 2014

Sam Unsted

LONDON (Alliance News) - Energy investment fund Riverstone Energy Ltd Thursday said funds managed by Riverstone Holdings LLC Thursday committed to an equity commitment of up to USD200 million in the fundraising round for Castex Energy 2014 LLC.

The USD200 million funding from Riverstone will comprise up to USD133 million from Riverstone Global Energy and Power Fund V and up to USD67 million from FTSE 250-listed Riverstone Energy Ltd.

Castex is a newly-formed Houston-based oil and gas company which will be managed by Castex Energy Inc, which has an operating history in exploration and development in the south Louisiana and Gulf of Mexico shelf.

"Our significant equity commitment in Castex 2014 reflects our confidence in the Castex team and the promise of the impressive asset base they have assembled," said Robert Tichio, a partner at Riverstone Holdings LLC.

Riverstone Energy shares were up 0.6% to 905.497 pence in early trade on Thursday.

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Source: Alliance News

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