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Ridgewood Energy Closes $1.1 Billion Fund

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January 13, 2014

Ridgewood Energy Corp. closed a $1.1 billion private equity fund focused on deepwater U.S. Gulf of Mexico oil exploration and production, the company said Jan. 13. One oil well, the Dantzler Project, invested in by the fund has hit oil, the company said, adding that it was drilled with Noble Energy Inc. (NYSE: NBL) as a partner.

Known as Fund II, it originally targeted $750 million, the company said. The fund continues Ridgewood Energy’s investment program focused on risk-adjusted returns for investors from new, high-risk oil field development, the company ...

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