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 Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Corvus Energy, GMC Close Financing Agreement

Corvus Energy today announced that it has completed a strategic investment by Green Marine Capital (GMC) previously announced on May 5, 2014. Green Marine Capital,

Cummins Reports Revenue Jump in Q2 2014

Cummins Inc. reported its results for the second quarter of 2014. According to the report, second quarter revenue of $4.8 billion increased 7 percent from the same quarter in 2013.

GPA Sets Tonnage Record

The Georgia Ports Authority moved more than 29 million tons of cargo, 3 million twenty-foot equivalent container units (TEUs) and more than 700,000 auto and machinery units in Fiscal Year 2014.

 
 
Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0951 sec (11 req/sec)