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

February 6, 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

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