LONDON (ShareCast) - Energy group Riverstone Energy announced it will be among the investors committing funds to Canadian midstream oil group Meritage Midstream Services III LP.
The FTSE 250 group said Riverstone Holdings LLC, its fund manager, will commit $100m (£68m) to Meritage, with $67m from the Riverstone Global Energy and Power Fund VI and $33m from Riverstone Energy Ltd.
Riverstone added it had the option to invest an additional $200m in the company.
"We are excited to continue the Riverstone/Meritage partnership and look forward to Meritage's continued success in the midstream industry," said Riverstone Holdings partner Baran Tekkora.
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