Riverstone Fund bought NBZ at $19 in 2014. Riverstone bought NBZ at $19 per share in late 2014.
A few months ago, Riverstone invested a lot of money in privately-held CIOC. It seems Riverstone likes Montney a lot. CIOC is a Montney producer that drills in Gold Creek, right next to Chinook Energy (CKE). Both CIOC and CKE are debt-free and cash-rich.
Does anybody know whether Riverstone has increased its position in NBZ? I might have missed something. This is the news from 2014 about Riverstone and NBZ:
"Northern Blizzard Resources Inc., a portfolio company of Natural Gas Partners (NGP) and Riverstone Holdings, LLC, has priced its initial public offering of 18,421,053 common shares and con-current secondary offering of 7,894,737 common shares at $19 per share for total gross proceeds of $500 million to Northern Blizzard ($350 million) and selling shareholders ($150 million). Upon closing of the offering, NGP and Riverstone will continue to own 40.1% and 27.2% of Northern Blizzard’s outstanding shares, or 38.6% and 26.2% assuming full exercise of over-allotment options."