New Joint Venture to Enter Texas' Barnett Shale
Private equity firm KKR & Co LP and energy-focused peer Riverstone Holdings LLC will form a U.S. oil and natural gas venture that would be one of the largest producers in the Barnett Shale in Texas, they said on Wednesday. The new entity, Trinity River Energy LLC, will be headquartered in Fort Worth, Texas, and led by Chris Hammack, who heads Legend Production Holdings LLC, the Riverstone entity that is contributing assets to the joint venture. The Barnett region is known for its shale oil and natural gas resources. KKR is providing assets from its natural resources funds, which were formed in 2010.
