Riverstone, EnCap and BlackRock to Exit Sierra Oil & Gas (Latin America)
Posted On: 04 Dec 2018 | Source(s): DEA Group, Financial Times | Author(s): Myles McCormick, David Sheppard
Germany-based oil and gas producer DEA Group has agreed to acquire Mexico-based Sierra Oil & Gas for a reported total of US$500 million. Sierra is backed by alternative investment fund managers Riverstone Holdings, EnCap Investments and BlackRock, which together originally invested in the company in 2014. Sierra holds interests in 9,400 square kilometers of exploration acreage in the Sureste basin of the Gulf of Mexico.