Liberty Resources II LLC has secured a $350 million investment from Riverstone Holdings LLC and Oakmont Corp.

Liberty Resources is a newly formed oil and gas company.  

The investment includes $200 million from Riverstone Global Energy and Power Fund V and $100 million from Riverstone Energy Ltd. Oakmont, a Los Angeles hedge fund, is investing $50 million.

Riverstone previously partnered with the management team of Liberty Resources II for Liberty Resources LLC, an oil and gas company focused on the Bakken Shale of North Dakota. The majority of Liberty Resources LLC’s assets were sold to Kodiak Oil & Gas in July for $680 million.

New York-based Riverstone is an energy-focused private equity firm that has raised about $27 billion in capital. Riverstone Energy invests in the energy industry.  

In October, Riverstone invested $200 million in Abaco Energy Technologies LLC, a company that focuses on oil-drilling services. In July, the firm invested in Bridger LLC.