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Riverstone Holdings Funds CanEra III
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Riverstone Holdings has announced that CanEra Inc., a newly-formed, Calgary-based oil and gas company, has received an equity commitment of up to approximately C$465 million, including C$225 million from funds managed by Riverstone and additional amounts from NGP Energy Capital Management, LLC and the Company's management team. Riverstone Energy Limited (REL) has committed to fund up to C$75 million of Riverstone's obligations to CanEra III.
CanEra III represents the third partnership between Riverstone and CanEra III's management team, which is led by Paul Charron (Chairman and CEO) and David Broshko (President).
Similar to Riverstone's prior, successful partnerships with CanEra III management in CanEra Resources Inc. and CanEra Energy Corp., CanEra III is being established to pursue a…
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