September 15, 2014
Eagle Energy Exploration LLC Announces Mississippian Asset Transaction
Tulsa, OK and London, UK (September 15, 2014) - Eagle Energy Exploration LLC ("Eagle II") today announced the signing of a definitive agreement to acquire oil and gas assets in Oklahoma's Mississippi Lime play from Fairway Resources Partners II, LLC for $195 million. The properties to be acquired comprise approximately 20,000 net acres in Alfalfa, Grant and Woods counties with current production from the Mississippi Lime.
Riverstone Holdings LLC and Eagle II management, led by Steve Antry (CEO and Chairman), Michael O'Kelley (President and COO) and Ben Kemendo (CFO), previously partnered successfully in Eagle Energy Company of Oklahoma LLC by building a substantial position in the Mississippi Lime, becoming one of the largest producers in the play prior to selling the company's assets to Midstates Petroleum Company, Inc. (NYSE: MPO) in October 2012.
Eagle II will continue to pursue exploration and development opportunities in the Mid-Continent region, leveraging its deep operating experience and building on its prior success accumulating, delineating and developing acreage in the region. Mr. Antry commented: "We are excited to re-enter the Mississippi Lime with this acquisition and believe it will provide an ideal platform as we expand our efforts in the play and other unconventional Mid-Continent formations."
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About Eagle Energy Exploration LLC
Eagle Energy Exploration LLC is a Tulsa-based oil and gas company founded in 2013 and led by CEO and Chairman Steve Antry, President and COO Michael O'Kelley and CFO Ben Kemendo. Eagle II was funded through equity investments from funds managed by energy private equity firm Riverstone Holdings LLC, including Riverstone Global Energy and Power Fund V and Riverstone Energy Limited.
About Riverstone Holdings LLC
Riverstone is an energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with approximately $27 billion of equity capital raised. Riverstone conducts buyout and growth capital investments in the exploration & production, midstream, oilfield services, power and renewable sectors of the energy industry. With offices in New York, London, Houston and Mexico City, the firm has committed approximately $26 billion to 111 investments in North America, Latin America, Europe, Africa and Asia.
About Riverstone Energy Limited
REL is a closed-ended investment company that invests exclusively in the global energy industry, with a particular focus on the exploration & production and midstream sectors. The company is uniquely positioned to benefit from the large number of investment opportunities being driven by the North American energy revolution and the continued growth in global energy demand. REL aims to capitalize on the opportunities presented by Riverstone's energy investment platform. REL is a member of the FTSE 250 and its ordinary shares are listed on the London Stock Exchange, trading under the symbol RSE. To date, REL has invested in eight energy companies spanning conventional and unconventional oil and gas activities in the Gulf of Mexico, Continental U.S., Western Canada, the U.K. North Sea and the Norwegian Sea.
Riverstone Energy Limited: