Riverstone Energy Limited

Share Issue/Capital Change • Jan 10, 2019

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RNS Number : 7861M

Riverstone Energy Limited

10 January 2019

Riverstone Energy Limited

10 January 2019

Riverstone Energy Limited Announces Sale of Meritage Midstream ULC

London, UK (10 January 2019). Riverstone Holdings LLC ("Riverstone"), the Manager of Riverstone Energy Limited ("REL"), has announced that it has agreed to the sale of 100% of its indirect membership interests in Meritage Midstream ULC, ("Meritage III") to SemCAMS Midstream ULC  ("SemCAMS Midstream"), a newly formed joint venture between SemGroup Corporation (NYSE: SEMG) and KKR, for C$600 million (US$449 million).

The transaction is expected to close during the first quarter of 2019, subject to customary approvals and closing conditions. The consideration to be received by REL is composed of cash approximately consistent with Meritage III's current valuation. Additional information on the transaction can be found at: http://ir.semgroupcorp.com/press-releases/press-release-details/2019/SemGroup-and-KKR-Form-Canadian-Joint-Venture-and-Acquire-Meritage-Midstream-ULC/default.aspx.

RBC Capital Markets acted as exclusive financial advisor to Meritage III with respect to the transaction. Dentons Canada LLP and Vinson & Elkins LLP acted as legal advisors to Meritage III.

About Riverstone Energy Limited

REL is a closed-ended investment company that invests exclusively in the global energy industry, with a particular focus on the exploration & production and midstream sectors. REL aims to capitalise on the opportunities presented by Riverstone's energy investment platform.  REL is a member of the FTSE 250 and its ordinary shares are listed on the London Stock Exchange, trading under the symbol RSE.  REL has 12 active investments spanning conventional and unconventional oil and gas activities in the Continental U.S., Western Canada, Gulf of Mexico, Mexico and credit.

For further details, see www.RiverstoneREL.com

Neither the contents of Riverstone Energy Limited's website nor the contents of any website accessible from hyperlinks on the websites (or any other website) is incorporated into, or forms part of, this announcement.

Media Contacts:

Riverstone Energy Limited:

Natasha Fowlie

Fraser Johnston-Donne

+44 203 206 6300

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