Overview
Riverstone Energy is contributing up to $167m towards what could be a $500m investment in Three Rivers Natural Resource Holdings III LLC, a newly-formed, Austin (Texas) -based oil and gas company. Three Rivers III is the third partnership between funds managed or advised by Riverstone and Three Rivers III’s management team. The first two have sold substantially all of their assets.
The Three Rivers III team is led by Mike Wichterich (CEO and President). Similar to Riverstone’s two prior successful partnerships with Three Rivers III management.
Three Rivers is an upstream oil and gas acquisition company. Their strategy is to acquire, develop and exploit oil and natural gas reserves in the Permian Basin in West Texas and Southeastern New Mexico, the largest onshore oil and gas basin in the United States.
RSE : Riverstone invests in Three Rivers III