© 2014 The Texas Lawbook.
By Natalie Posgate – (August 13) – Vinson & Elkins is advising the energy private equity firm, Riverstone Holdings, in its affiliate’s $300 million investment of the new Calgary-based oil and gas company, Canadian Non-Operated Resources LP.
The new company, nicknamed CNOR, will pursue partnerships with top-tier operators to develop oil and gas assets in the Western Canadian Sedimentary Basin.
The transactional team from V&E is New York-based, but Dallas tax partners David Peck and David D’Alessandro as well as Houston employee benefits associate Stephen Jacobson are also involved in the deal.
In December, Peck, D’Alessandro and Jacobson helped advise Riverstone in another $300 investment in Tulsa, Okla.-based Eagle Energy Corporation, which helped the company pursue oil and gas exploration and production opportunities in the Mid-Continent region of the U.S.
Calgary-based attorneys from the Canadian law firm Bennett Jones co-counseled with V&E for Riverstone’s end of the transaction.
CNOR will be led by Richard Grafton, who has founded multiple Calgary-based energy investment banking boutiques. Toronto-based attorneys from the Canadian law firm Growlings are advising Grafton in the deal.
Riverstone’s investment is part of a $675 million investment in CNOR, the other portion of which is being funded by a Middle Eastern sovereign wealth fund, CNOR’s management team and other strategic investors.
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