New Oil Fund Riverstone Boasts Heavyweight Board
New investment fund Riverstone Energy Limited floated on the London Stock Exchange Thursday with the intention of investing exclusively in the global energy industry. The firm, which boasts a heavyweight board of former oil firm senior executives, will have a particular focus on the exploration and production sectors as well as the midstream sector.
The firm has raised approximately $1.2 billion with its initial public offering in London.
Riverstone's board includes former BP CEO Lord Browne as a partner and managing director of the company along with BG Group chairman Sir Robert Wilson, who has been appointed Riverstone's chairman. The board also boasts former Anadarko Petroleum Corporation CEO Jim Hackett.
Lord Browne served as Group Chief Executive of BP between 1995 and 2007. He also served as Executive Vice President and CFO at Standard Oil of Ohio in the mid-1980s.
Winston commented in a statement:
"We are delighted that investors have responded so positively to [Riverstone]. The interest shown by both institutional and cornerstone investors is a strong endorsement of the investment proposition and we are now fully focused on delivering the strategy we outlined at IPO."
In a joint statement, Riverstone founders David Leuschen and Pierre Lapeyre added:
"Riverstone Energy will provide a unique entry point into differentiated E&P and midstream investments across the global energy sector, including those benefiting from the North American energy revolution."
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Operates 32 Offshore Rigs
- BP: 2017 'Massive' Year for Global Upstream Projects (Dec 07)
- BP Seeks Stake In Cairn Energy Senegal Assets (Nov 20)
- Officials: BP, Eni Interested In Developing Iraq's Majnoon Oilfield (Nov 20)
Company: BG Group more info
- Shell Mulls LNG-Hub Network as Use by Ships and Trucks Expands (Jul 11)
- Tanzania Laws Would Allow Govt to Tear Up Mining, Energy Deals (Jun 29)
- Despite Cuts, Big Oil to Expand Production into the 2020s (Sep 05)
Company: Anadarko Petroleum more info
- 4 Ways Agile Sourcing Can Lead Enterprises to Success (Nov 10)
- Gadfly: Anadarko Woke Up, and It Really Smells the Coffee (Nov 01)
- No More Free Lunch Is the Big Change Under Way in the Oil Market (Oct 09)