Investments in Energy and Power
Riverstone Holdings is a company with billions of dollars in assets (roughly $27 billion in equity according to the group’s home page), and it focuses on most aspects of the energy and power industry. This includes the buyout and management of oil fields, renewable energy sources, and the capital investments often needed to begin such endeavors. Founded by Pierre Lapeyre and David Leuschen, and with offices in New York City, London and Mexico City this international corporation is responsible for helping meet the energy needs of people all over the world. Which is why it’s not surprising that Riverstone Holdings has made all of the papers again for its endeavors in Canada.
What The Company Is Doing
Riverstone Holdings, in keeping with its avowed goals of finding the best new and existing sources of power to help provide for the energy needs of the world’s population, has taken on a new project to tap energy resources in Western Canada. Riverstone Holdings, along with a number of other companies who have invested in the project, has joined forces with Non-Operated Resources LP. Riverstone Holdings have thus far provided roughly $300 million to the Calgary-based Canadian firm, with about $200 million coming from the Riverstone Global Energy and Power Fund V, and roughly $100 million from Riverstone Limited ltd. The news was broken on August 14 in New York, and there has been no little coverage of this latest project that Riverstone Holdings has taken on.
Just The Beginning
While Riverstone Holdings has already put up a significant amount of money on the Western Canadian project, there is talk that the $300 million it’s provided (along with all of the funds that have come from other backers of the project) is just the beginning. How much additional funding the company is prepared to invest is a matter of some debate, and it will depend on how successful the project turns out to be. Judging from Riverstone Holdings’ past successes though, and from the sheer number of companies that are signing up to be a part of the project, this should be quite an undertaking with a lot of energy-producing potential.