In 1977, after graduating from Dartmouth’s Tuck School of Business, David Leuschen moved to New York and started work at Goldman Sachs. After several years with the company, David was asked to specialize in energy. In 1982 he founded the Goldman Sachs Energy and Power Group and became the head of the group in 1985. David was responsible for expanding Goldman’s energy and power investment banking practice. Under his lead, it grew to be one of the industry’s leading franchises. In 2000, David Leuschen left Goldman after 22 years to start Riverstone Holdings, a private equity firm focusing on growth capital investments in the power and energy sectors. In the past 14 years, Riverstone has grown to be a leading investor in the conventional and renewable energy business. Some of the company’s latest news and press releases can be found below.
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Next Generation Energy Logistics Formed to Pursue Opportunities
Posted in Press Releases.Old Greenwich, CT (March 12, 2014) – Next Generation Energy Logistics, LLC (“NxGen”) has been formed by Perot Bissell, Michael Crosby, and Belinda Foxworth to pursue opportunities in the downstream energy logistics industry, including businesses involved in the distribution of diesel fuel, gasoline, CNG, LNG, bio-fuels, and industrial lubricants throughout North America. Mr. Bissell was one of the founding investors of Maxum Petroleum, Inc. and served as its CEO from 2006 until 2012. During his tenure, Maxum became of one the largest independent distributors of fuel and lubricants to commercial and industrial …
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Fieldwood Energy LLC Closes Gulf of Mexico and Gulf Coast Acquisition
Posted in Press Releases.Houston, TX (Feb. 25, 2014) – Fieldwood Energy LLC (“Fieldwood” or “The Company”) today announced the closing of its acquisition of SandRidge Energy, Inc.’s Gulf of Mexico and Gulf Coast business unit for a net cash payment of approximately $705 million, which reflects adjustments to the purchase price for cash flow since the effective date and net working capital. Production from the acquired assets currently exceeds 26,000 boepd. The acquisition further enhances Fieldwood’s position as the owner of the largest asset base on the Gulf of Mexico Shelf while also expanding the …Continue Reading... -
Liberty Resources II LLC Announces Acquisition of Bakken Assets, Marking Return to Williston Basin
Posted in Press Releases.Denver, CO and London, UK (Jan. 30, 2014) –Liberty Resources II LLC (“Liberty II” or the “Company”), a Denver-based oil and gas company, today announced that it has entered into an agreement to acquire oil and gas assets in North Dakota’s Williston Basin for $455 million. The properties to be acquired comprise approximately 53,000 net acres in Williams, Divide, Burke and McKenzie counties and over 4,000 boe/day of production from the Bakken and Three Forks formations, which Liberty II will continue to target as it furthers the development of the acquired …
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Riverstone to Invest up to $300 million in Eagle Energy Exploration, LLC
Posted in Press Releases.Tulsa, OK and New York and London (Dec. 13, 2013) – Eagle Energy Exploration, LLC (“Eagle”) announced today an equity commitment of up to $300 million from energy private equity firm Riverstone Holdings LLC (“Riverstone”). The Riverstone commitment comprises up to $200 million from Riverstone Global Energy and Power Fund V (“Fund V”) and up to $100 million from Riverstone Energy Limited (“REL”). Eagle will pursue oil and gas exploration and production opportunities in the Mid-Continent region of the United States, leveraging its deep operating experience in the region and building on …
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H.E.S. Beheer and Hestya Enter Into Exclusive Negotiations
Posted in Europe, Press Releases.Rotterdam, NL (Nov. 26, 2013) – H.E.S. Beheer N.V. (the “Company“) and Hestya Energy B.V. (“Hestya“) announce that they are in discussions regarding a possible public cash offer, by Hestya or a new entity that is an affiliate of Hestya (the “Possible Offeror“), for all issued and outstanding shares of the Company (the “Possible Public Offer“). Hestya was incorporated and is controlled by investment funds managed or advised by an affiliate of Riverstone Europe LLP (“Riverstone“). HES Beheer has granted exclusivity to …
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Liberty Resources II LLC Announces $350 Million Commitment Led by Riverstone
Posted in Europe, North America, Press Releases.Denver, CO and London, UK (Nov. 7, 2013) – Liberty Resources II LLC (“Liberty II” or the “Company”), a newly-formed, Denver-based oil and gas company today announced a $350 million commitment, including $300 million from funds managed by energy private equity firm Riverstone Holdings LLC (“Riverstone”), $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 (“Fund V”) and $100 million from Riverstone Energy Limited (“REL”).
Riverstone and Liberty II management previously partnered successfully in …
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Riverstone Holdings LLC Commits $200 Million to Launch Houston-Based Abaco Energy Technologies LLC
Posted in North America.Houston, TX (Oct. 31, 2013) – Abaco Energy Technologies LLC (“Abaco”), today announced a $200 million commitment from energy private equity firm Riverstone Holdings LLC (“Riverstone”) to acquire, integrate and develop energy manufacturing and service businesses. Abaco is a newly-formed, private, Houston-based company led by Ken Babcock and Roger Rivet, the former CEO and CFO, respectively, of Titan Specialties, Ltd. (“Titan”) and International Logging, Inc. (“ILI”), two companies previously owned by Riverstone affiliated entities.
Abaco will focus primarily on manufacturing and services related to North American drilling, completion and production and associated …
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Riverstone Holdings LLC to Invest Up to $300M in Carrier Energy Partners, LLC
Posted in North America, Press Releases.Houston and New York (Oct. 10, 2013) – Riverstone Holdings LLC (“Riverstone”) announced that it has committed to invest up to $300 million in Carrier Energy Partners, LLC (“Carrier”). With offices in Sugar Land, Texas, Carrier is focused on the acquisition and exploitation of upstream oil and gas assets. Its primary objective is to partner with select operators that are developing both unconventional and conventional reservoirs in North America.
Carrier is led by its President and CEO, Mark Clemans, a professional engineer with over 25 years of experience in technical and financial …
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Riverstone Holdings Closes Latest Global Energy and Power Fund at $7.7 Billion
Posted in Global Energy, Press Releases.New York, New York (June 19, 2013) —Riverstone Holdings LLC (“Riverstone”), a leading energy and power investment firm, has closed its latest conventional energy private equity fund, Riverstone Global Energy and Power Fund V, L.P. (“Fund V”), with total commitments of $7.7 billion. The Fund’s original target was $6 billion.…
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Fieldwood Energy LLC Announces $625 Million Commitment
Posted in North America, Press Releases.Houston, TX (Dec. 20, 2012) – Fieldwood Energy LLC (“Fieldwood”), a new Houston- based oil and gas company focused on the acquisition and development of conventional oil and gas assets, today announced a $600 million commitment from energy private equity firm Riverstone Holdings LLC (“Riverstone”) alongside a $25 million commitment from Fieldwood management.…
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