US oil producers Eagle Energy have been boosted after a £183million cash injection from a private equity firm.
The Oklahoma-based firm will receive around $200million from Riverstone Holding’s global energy and power fund, and a further $100million from Riverstone Energy.
The funding will allow Eagle to continue its experience in the mid-US, after previous success in developing fields in the Mississippi Lime.
The companies’ management had previously worked together to build up the Mississippi Lime trend before selling the find off last year.
“Our significant equity commitment to Eagle reflects our confidence in Steve and the team he has assembled, as well as the opportunity set we see in the Mid-Continent region,” said Riverstone co-founders Pierre Lapeyre and David Leuschen
“We achieved an outstanding result in our previous venture and are excited to be working together again with a similar focus.”