StockMarketWire.com - Riverstone Energy has signed an agreement alongside other funds affiliated with Riverstone Holdings to acquire a majority stake in Centennial Resource Development from NGP Energy Capital and certain other related coinvestment funds.

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 investment by REL is expected to comprise up to $175m depending upon approval for the transaction by the other Riverstone affiliated funds.

Closing of the transaction is expected to occur in late September 2016.






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