Riverstone pumps $200m into Origo Exploration

Alice Murray
26 August 2014

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Riverstone, Barclays Natural Resource Investments (BNRI) and Temasek have invested a combined $525m into Stavanger-headquartered Origo Exploration.

The deal sees Riverstone invest $200m, comprising $133m from its Riverstone Global Energy and Power Fund V, and $67m from Riverstone Energy Limited.

BNRI committed $200m to the deal, while Singapore-based investment company Temasek contributed $125m.

With the fresh capital, Origo will acquire exploration licenses in the Norwegian and UK continental shelves through farm-ins, licence rounds and M&A activity. The company plans to drill in 25 exploration wells over the next five years and, where possible, the business intends to take any discoveries into development and production.

Company
Origo is a newly formed Norway- and UK-focused exploration and production company. The Stavanger-based business is led by North Sea oil entrepreneurs Andrew Armour and Timothy Sullivan, joined by Norwegian oil & gas experts Svein Ilebekk, Kent Høgseth and Ørjan Gjerde.

People
Origo is led by Andrew Armour, Timothy Sullivan, Svein Ilebekk, Kent Høgseth and Ørjan Gjerde. Pierre Lepeyre and David Leuschen are co-founders of Riverstone.