With the all-clear sign from FERC, investor Warren Buffett is free to buy a whole lot more of Houston-based Occidental with analysts predicting a full acquisition on the horizon, which would be the largest ever for Berkshire Hathaway. But while many private equity firms have caved to the will of activists decrying any and all investment in the oil and gas industry, not all are following suit. Reese Energy Consulting today is following news from Private Equity Investor Land where Houston-based Riverbend Energy Group, which specializes in oil and gas investments, has now sold three of its five energy portfolios for $1.8 billion in one transaction. The buyer was not disclosed. Assets include non-operated interests across the Bakken/Three Forks, Utica, Fayetteville, and Haynesville, producing 47 MBOED from 11,000+ wells. The surviving two portfolios manage assets in the Permian’s Delaware and Midland, Eagle Ford, and the Williston. And Riverbend is on the hunt for more opportunities. The firm is actively pursuing non-operated working interest acquisitions in the Delaware, Midland, Barnett, Fayetteville, Haynesville, Williston, and Marcellus/Utica.
Posted on August 23, 2022