TTR Recognizes Riverstone's Commitment of US$225 Million to Sierra Oil & Gas as Deal of the Quarter; Vinson & Elkins Advises Riverstone

October 15, 2014 - Transactional Track Record (TTR) has recognized Riverstone Holdings LLC's investment in Sierra Oil & Gas S. de R.L. de C.V. of up to US$225 million as Deal of the Quarter. Vinson & Elkins advised Riverstone in the deal.

Alongside Riverstone's investment, EnCap Investments and Mexico's Infraestructura Institucional have also committed US$225 million and US$75 million, respectively, for a total equity contribution of US$525 million. With this expansion capital, Sierra, which specializes in oil and gas development, seeks to continue its expansion strategy and growth in the domestic oil and gas business.

According to TTR's report, this deal indicates that foreign private equity funds have once again ratified their interest in the Mexican oil and gas sector. The transaction also represents the second cross-border private equity funds investment, and it comes just months after the final approval of Mexico's energy reform.

The V&E team advising Riverstone was led by associate Brian Rosenblatt and partner Boyd Carano with assistance from associates Julia Tong, Eliot Cotton, Grant Munyon and Thomas Laughlin. Also advising were partners David Peck and Sean Becker and associates Jason McIntosh, Stephen Jacobson and Allyson Seger.

Vinson & Elkins LLP is an international law firm with approximately 700 lawyers across 15 offices worldwide. For more information, please contact Courtney Kirkpatrick at +1.713.758.2333.


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