Riverstone Holdings said today that it had completed the sale of Three Rivers III, an Austin-based oil and gas company focused on the Permian Basin.
Riverstone Holdings, the manager of investment company Riverstone Energy, formed Three Rivers III in April 2015 to pursue acquisition, exploitation and development opportunities in the Permian Basin of West Texas and Southeast New Mexico.
Its creation followed partnerships with the same team in Three Rivers I and II.
Three Rivers III was producing in excess of 10,000 boepd net as of January 2018.
The transaction, first announced in February, resulted in gross cash proceeds to Riverstone Energy of about $203 million.