Investment manager Riverstone Energy believes oil producers in low-cost basins will continue to perform strongly thanks to good fundamentals and a dip in North American drilling activity.
Riverstone Energy has agreed a $175million takeover of the majority stake Centennial Resource Development from NGP Energy Capital.
Oil and gas investor Riverstone Energy Limited (REL) said yesterday it was profiting from industry distress and looking forward to taking advantage of emerging opportunities driven by lower commodity prices.
Investment company Riverstone Energy said chairman Sir Robert Wilson will step down as it announced a profit of $8.4million in 2015.
Riverstone Energy has invested a further $105million in seven companies in the third quarter of 2015 and reported a rise in net asset value.