Liberty Resources Raises $350M For New Oil Venture

Law360, New York (November 7, 2013, 4:11 PM EST) -- Colorado oil and gas company Liberty Resources II LLC raised $350 million to develop a new portfolio of assets, the company announced Thursday.

Out of the $350 million, Riverstone Holdings LLC funded $300 million, and the remaining $50 million came from Oakmont Corp. Of Riverstone's contributions, $200 million came from its Global Energy and Power Fund V and $100 million from Riverstone Energy Limited.

Riverstone and Liberty worked together on a previous venture in North Dakota's Bakken Shale formation.

"We are very pleased to continue our successful...
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