StockMarketWire.com - Riverstone Holdings confirmed an equity commitment of C$200m to Canadian International Oil, a private exploration & production firm focused on liquids-rich unconventional resources in western Canada.

The Riverstone commitment comprised C$133m from Riverstone Global Energy and Power Fund V and C$67m from Riverstone Energy Limited. An initial capital call of about C$100m would be funded today to support near-term drilling.

Since its establishment in 2010, CIOC has aggregated one of the largest and most advantaged land positions in the emerging Montney and Duvernay formations of Western Canada's Deep Basin.

The company controls and operates 100% of this asset base, which comprises about 400,000 acres, currently produces approximately 3,000 boe per day, and includes one of the highest performing liquids wells across the Montney trend.


At 8:22am: [LON:RSE] Riverstone Energy Limited Ord Npv share price was -3.75p at 885.25p



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