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
As Upstream M&A Settles, Oilfield Services Gear Up for More Deals
2024-12-06 - Within the first nine months of 2024, oilfield services dealmaking hit $19.7 billion—the highest since 2018, according to Deloitte.
Pickering: Will Improving Drilling Efficiencies Outrun Inventory-led M&A?
2024-12-06 - Concerns on remaining inventory are a big driver of M&A activity, but improving drilling efficiencies allow for low rig counts to keep high production, says Dan Pickering, the chief investment officer of Pickering Energy Partners.
Utica Play Economics Are Middleweight, Enverus Says
2024-12-04 - Returns in America’s modest, middleweight oil play, are above the Bakken and Eagle Ford, but rank below the Midland, Delaware and Denver-Julesburg basins, Enverus reported.
Exclusive: Early Findings Show Untapped Potential in Barnett Exploration
2024-12-03 - Steven Jolley, Halliburton’s Permian Basin technology manager, gives insight into potential for new drilling opportunities around Andrews County and efficiencies operators are seeing within the Permian, in this Hart Energy Exclusive interview.
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.