Rock Oil Holdings LLC received an equity commitment of up to $250 million from funds managed by private-equity firm Riverstone Holdings LLC, the company said March 13.

The funds included Riverstone Global Energy and Power Fund V and Riverstone Energy Ltd., for amounts up to $167 million and up to $83 million, respectively, the company said.

Additional equity came from Rock Oil’s management team, the company added.

"Our team is very pleased to join with an experienced partner like Riverstone and appreciate their support as we develop a new portfolio of assets," said Kyle R. Miller, Rock Oil’s chairman and CEO.

John Lancaster, a partner at Riverstone, added, “"Our equity commitment to Rock Oil reflects the confidence that we have in Kyle and the entire Rock Oil team. We believe this new venture is well situated to capitalize on the continued opportunities we see in their focus regions."

Rock Oil plans to focus on acreage in the Eagle Ford and Utica shales, as well as the Permian Basin, the company said.

Rivington Holdings LLC and its affiliate Rivington Securities LLC were the company’s financial advisors, Rock Oil said.

DLA Piper LLP was the company’s legal counsel, Rock Oil said, noting that Latham & Watkins LLP was Riverstone’s.

Rock Oil Holdings is a new oil and natural gas company based in both Denver and Houston, the company said.

Riverstone Holdings is based in New York.