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Riverstone invests in Mexican Exploration and Production company

RSE : Riverstone invests in Mexican Exploration and Production company

Riverstone Energy has committed $75m towards a $525m investment in Sierra Oil & Gas. They describe Sierra as Mexico’s first independent exploration and production company. They have the opportunity to double their investment once the first lot of money has been fully committed.

The announcement says “Sierra, headquartered in Mexico City, is led by Ivan Sandrea, a highly experienced E&P executive with an extensive track record of leadership in energy organizations including Statoil, BP, OPEC and Energy Intelligence.  Mr Sandrea has assembled a team of distinguished professionals from the Mexican and international oil & gas sector, representing over 350 years of experience with direct applicability to Mexico’s opportunity set.

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.”

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