Carlyle, Riverstone to Invest $450M in Oil and Gas Firm

Wednesday, February 06, 2008
The Carlyle Group and a New York-based private equity firm have committed a $450m investment to Dynamic Offshore Resources LLC, a new oil and gas company that will focus on the acquisition and development of producing properties in the Gulf of Mexico, the Washington Business Journal reported. Joining D.C.-based Carlyle in the Dynamic Offshore Resources investment is Riverstone Holdings LLC, a private equity firm founded in 2000 that focuses on certain parts of the energy industry. Riverstone has committed more than $6 billion, to date, in more than 41 investments.

The founders and management team at Dynamic Offshore Resources also plan to invest up to an additional $50m in the firm. The Houston-based company will use the committed capital to concentrate on opportunities associated with Gulf of Mexico assets, according to a statement from Carlyle, a private equity giant with about $75 billion under management committed to 57 funds. The private equity firms did not break down how much each party is investing in Dynamic Offshore Resources. Source: Washington Business Journal

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Defense Appropriations Bill Includes $1 Bln for US Icebreaker

The U.S. Senate Appropriations Committee’s FY2017 Defense Appropriations Bill has included $1 billion in funding to accelerate construction of a new polar icebreaker for the U.

Higher Capesize Demand Pushes up Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday buoyed by higher demand for capesize vessels.

TT Club Reports Robust Financial Results for 2015

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.   Knud Pontoppidan,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0766 sec (13 req/sec)