Riverstone Announces $200 Million Commitment to Origo Exploration
Wednesday, Aug 27, 2014

New York, NY and London, UK (August 26, 2014) - Riverstone Holdings ("Riverstone") announced today that it will be one of three cornerstone investors in new Norway and UK-focused exploration and production ("E&P") company Origo Exploration AS ("Origo").

Riverstone and Barclays Natural Resource Investments ("BNRI") will each contribute USD 200 million of funding to Origo, while Singapore-based investment company Temasek will contribute an additional USD 125 million. The Riverstone commitment comprises $133 million from Riverstone Global Energy and Power Fund V ("Fund V") and $67 million from Riverstone Energy Limited ("REL").

The investment in Origo exemplifies Riverstone's strategy of creating value by utilising management teams with proven knowledge and expertise in the energy and power industry. Origo, headquartered in Stavanger, is led by Andrew Armour, Timothy Sullivan, Svein Ilebekk, Kent Høgseth and Ørjan Gjerde, all highly-experienced professionals from the E&P industry in Norway and the UK.

Origo will acquire exploration licences in the Norwegian and UK continental shelves through farm-ins, licence rounds and focused M&A activity. It plans to participate in the drilling of around 25 exploration wells over the next five years and, where appropriate, bring discoveries towards development and production.

Pierre Lapeyre and David Leuschen, Co‚ÄźFounders of Riverstone, said: "We are very pleased to partner with one of the most successful exploration teams in the North Sea. Our equity commitment to Origo reflects the confidence that we have in Andrew, Svein, Tim and the rest of the team, as well as our belief in the potential for significant new discoveries in the Norwegian and UK Continental Shelves. The investment also provides additional scale and diversification to REL's asset base."

For more information, please visit: http://www.riverstonerel.com

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