John Deede | Shale Plays Media Google+
Kohlberg Kravis Roberts & Co. and Riverstone Holdings, LLC have agreed to consolidate their oil and gas assets to form Trinity River Energy in the fall of this year. Along with various other investments, the companies have considerable combined holdings in the Barnett Shale. Nicholas Sakelaris, a writer for the Dallas Business Journal, reports:
Trinity River will have Barnett Shale wells capable of producing up to 258 million cubic feet per day of natural gas. The driller will also have oil and natural gas liquid-rich properties throughout Texas, Louisiana and Mississippi.
The company formed from the combination of KKR Natural Resources and Legend Production Holdings, a Riverstone company. Both KKR, which manages investments across various asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds, and Riverstone, an energy and power-focused private investment firm, have offices in Houston.
Read the full article here: Major investment firms form new Barnett Shale giant