Riverstone Holdings LLC has agreed to invest up to $300 million in Meritage Midstream Services III LLP, a new midstream oil company.

Meritage, headquartered in Denver, is a newly-formed midstream energy company that plans to invest in west Canada. We are expecting to see an increase in M&A activity among midstream energy companies, which focus more on oil transportation, storage and marketing than searching underground for oil.  Riverstone is invested in another Meritage business, Meritage Midstream Services II LLC, which provides oil and gas producers in the Powder River Basin (in southeast Montana and northeast Wyoming) with midstream services, including natural gas gathering, compression, treating and processing. 

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