CA$675 million for Canadian Non-Operated Resources
August 14, 2014
Canadian Non-Operated Resources, a newly formed oil and gas company, has announced an equity commitment of CA$675 million ($618 million) from an investor group including Riverstone Holdings and Grafton Asset Management. The Riverstone commitment comprises up to CA$200 million ($183 million) from Riverstone Global Energy and Power Fund V and up to CA$100 million ($91 million) from Riverstone Energy Limited. CNOR will seek to fill demand for non-operating partner capital necessary for development of unconventional resources. It'll pursue partnerships with top-tier operators to develop oil and gas assets in the Western Canadian Sedimentary Basin.