Riverstone Energy has agreed a $175million takeover of the majority stake Centennial Resource Development from NGP Energy Capital.
Centennial is an exploration and production company focused on the acquisition and development of oil and liquids-rich natural gas resources in the Permian Delaware Basin, West Texas.
The deal is expected to close in September.
Riverstone is an energy and power-focused private investment firm founded in 2000 with $34billion in equity capital.
Riverstone has committed approximately $30 billion to over 120 investments in North America, Latin America, Europe, Africa, and Asia.