Riverstone Energy Limited (ticker: RSE) has signed an agreement alongside other funds affiliated with Riverstone Holdings, LLC to acquire a majority stake in Centennial Resource Development LLC from NGP Energy Capital and certain other related coinvestment funds.

The investment by REL is expected to comprise up to US$175 million depending upon approval for the transaction by the other Riverstone affiliated funds. Closing of the transaction is expected to occur in late September 2016.

REL is a closed-ended investment company under Riversto...

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