On April 9, Zavanna LLC, an oil and natural gas company, said that Riverbend Oil & Gas LLC, a partnership that it formed in June 2013 with GSO Capital Partners LP, has since closed more than 30 acquisitions for more than $100 million.
Riverbend was formed with a $200 million preferred equity commitment from GSO affiliates and some of Zavanna’s assets, the company added.
Riverbend, focused on the Williston Basin, is a nonoperating working interest partner in Zavanna’s 2014 development program, which includes a three-rig program and capex of more than $200 million, Zavanna said.
KLR Group LLC was Zavanna’s financial advisor, the company said.
Denver-based Zavanna LLC operates in the Williston Basin.
GSO Capital Partners is a division of The Blackstone Group LP (NYSE: BX), an investment and advisory firm based in New York. GSO is a credit-focused alternative asset manager.
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