Riverbend rebuilds energy strategy with Willston basin acquisition
(WO) – Riverbend Energy Group announced the acquisition of a sizeable non-operated working interest position in the core of the Williston basin. The acquisition provides a high-quality, free cash flow positive non-operated asset base in both the Williston and Permian basins, underpinned by top-tier operators in the most active oil-producing basins in the U.S.
The Acquisition and other recent transactions mark the rebuilding of Riverbend’s traditional non-operated energy strategy. The company continues to manage and grow its other active traditional energy strategies, which target operated Midland basin properties and mineral and royalty interests across leading oil-producing shale plays. These traditional energy focused strategies are complemented by Riverbend’s active energy transition platform.
“For more than 20 years, our team has demonstrated its capabilities as a leading energy investment manager and operating company. With this transaction, our team continues to rely on our established acquisition and asset management process, which leverages our proprietary systems and technologies to identify and aggregate high value assets,” said Randy Newcomer, Jr., Riverbend’s CEO. “We are excited and firmly believe in the market trends that support Riverbend’s traditional energy investment thesis, including underinvestment across the hydrocarbon landscape, as well as strong activity levels and continued focus on core inventory development in the most prolific unconventional basins where Riverbend is positioned.”