KKR & Co., the private-equity firm led by Henry Kravis and George Roberts, and Riverstone Holdings LLC agreed to create one of the largest oil and natural gas producers in Texas’ Barnett Shale.
Trinity River Energy LLC will combine KKR Natural Resources Funds assets with Riverstone’s Legend Production Holdings LLC, and will be based in Fort Worth, Texas, the companies said in a statement today. The company will be led by Chris Hammack, the current president and chief executive officer of Legend. Financial terms weren’t disclosed.
The deal creates an operator with about 258 million cubic feet a day equivalent of production in the basin. Trinity will also have properties in the Permian Basin, East Texas, South Texas, Louisiana and Mississippi.
For more, see "Atlas Resources Pays $107M for Natural Gas Assets."