Royal Bank Capital Partners, the private equity arm of Royal Bank of Canada, has launched a $100-million fund that will invest in oil and gas, power and technology service companies. The fund is led by Paul McDermott, and comanaged by Bruce Rothstein, managing director, and Ray Sheen, director. Rothstein and McDermott were with First Reserve Corp., the Greenwich, Conn.-based private equity firm that invests exclusively in energy. Previously, Rothstein was executive vice president and chief financial officer of Entech Industries, a company formed by First Reserve to acquire and operate high-end valve manufacturers, and was with Ernst & Young as a senior manager specializing in mergers and acquisitions. Sheen was vice president of Deutsche Bank's energy group, a project finance director at Union Bank of Switzerland and held various positions, including vice president, in Lehman Brothers' independent power group. He was also with GE Capital, as an assistant vice president in the energy finance group. -Petroleum Finance Week
Recommended Reading
Push-Button Fracs: AI Shaping Well Design, Longer Laterals
2024-11-26 - From horseshoe wells to longer laterals, NexTier, Halliburton and ChampionX are using artificial intelligence to automate drilling and optimize completions.
Liberty Capitalizes on Frac Tech Expertise to Navigate Soft Market
2024-10-18 - Liberty Energy capitalized on its “competitive edge” when navigating a challenging demand environment in third-quarter 2024, CEO Chris Wright said in the company’s quarterly earnings call.
As Permian Gas Pipelines Quickly Fill, More Buildout Likely—EDA
2024-10-28 - Natural gas volatility remains—typically with prices down, and then down further—but demand is developing rapidly for an expanded energy market, East Daley Analytics says.
Companies Hop on Digital Twins, AI Trends to Transform Day-to-day Processes
2024-10-23 - A big trend for oil and gas companies is applying AI and digital twin technology into everyday processes, said Kongsberg Digital's Yorinde Lokin-Knegtering at Gastech 2024.
HNR Increases Permian Efficiencies with Automation Rollout
2024-09-13 - Upon completion of a pilot test of the new application, the technology will be rolled out to the rest of HNR Acquisition Corp.’s field operators.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.