Riverstone backs Fairfield Energy with $150m

The transaction includes an option for an additional $200m injection alongside the existing investor base. 

Warbug Pincus, the previous lead investor, committed $200m to Fairfield in November 2005. The investor syndicate on the initial deal included the company's management, Warbug Pincus, SGAM/4D Global Energy Development Capital Fund and KERN Energy Partners I Fund.

Company
Fairfield is an independent oil & gas company based in Staines, Middlesex. Established in 2005, the company holds assets in the Northern North Sea and Southern Gas Basin, including Dunlin fields and platform, Darwin, Clipper South and Crawford/Porter.

Fairfield is planning the development of three wells for exploration and production this year, in partnership with TAQA.

People
Pierre Lapeyre and David Leuschen, co-founders, led the transaction on behalf of Riverstone. Simon Eyers, managing director, is responsible for the portfolio company at Warburg Pincus. Ron Emerson is chairman of Fairfield.

Following the deal, Lord Browne of Madingley and Ralph Alexander, partner and managing director respectively at Riverstone, will join the board of Fairfield as non-executive directors. 

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