New Company / Start-Ups | Capital Markets | Private Equity Activity
New Bakken-Focused E&P Awarded $350MM Capital Commitment
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Liberty Resources II LLC has been awarded a $350 million commitment, including $300 million from funds managed by energy private equity firm Riverstone Holdings LLC, $50 million from Oakmont Corporation and additional amounts from the Company's management team.
The Riverstone commitment comprises $200 million from Riverstone Global Energy and Power Fund V and $100 million from Riverstone Energy Limited.
Riverstone and Liberty II management previously partnered successfully in Liberty Resources LLC, an oil and gas company focused on the Bakken Shale of North Dakota. Over the course of two years and through thirteen discrete proprietary acquisitions, Liberty established a land position of approximately 43,000 net acres and drilled and completed 29 operated wells in the Bakken Shale and…
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