logo-loader

Riverstone Energy backs Canadian venture with $40mln investment

Published: 18:17 01 Oct 2014 AEST

canada_map_two_350_542bb90db7c0f

Natural resources investor Riverstone Energy (LON:RSE) revealed it has put $40mln into a Canadian drilling venture as part of a broader $250mln funding.

Riverstone Energy, a listed associate of Lord Browne’s private equity group Riverstone Holdings, is one of the backers of Canadian Non-Operated Resources (CNOR) which has committed US$250mln to Toronto quoted Bellatrix Exploration.

Bellatrix plans to use the money to accelerate the development of its extensive acreage position in Canada, where it has about 400,000 acres.

Riverstone previously invested $90mln into CNOR in August, and has now invested a total of $674mln across nine energy companies. 

It has stakes in both conventional and unconventional projects, and its investments span territories such as the Gulf of Mexico, continental United States, western Canada, the UK and North Sea, the Norwegian Sea, and Mexico.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

9 hours, 40 minutes ago