Aug 22, 2022

Announces Key Personnel Addition to Growing Team August 22, 2022 12:40 PM Eastern Daylight Time HOUSTON--( BUSINESS WIRE )--Riverbend Energy Group (“Riverbend”), on behalf of certain of its affiliates and numerous institutional investors, announced today that it has completed the sale of its equity interests in Riverbend Oil & Gas VI, LLC, Riverbend Oil & Gas VI-B, LLC and Riverbend Oil & Gas VIII, LLC. Total purchase price for the transaction was $1.8 billion based on a May 1, 2022, effective date. The divested portfolios represent a substantial, diversified asset base of non-operated interests across the Bakken/Three Forks, Utica, Fayetteville and Haynesville. As of the effective date, these properties produced approximately 47,000 barrels of oil equivalent per day from over 11,000 wells. The close of this transaction marks the successful monetization for Riverbend of three of Riverbend’s five active traditional energy portfolios. The company continues to manage and grow funds VII and IX, which target operated Midland Basin properties (Riverbend VII) and mineral and royalty interests across leading shale plays (Riverbend IX). Additionally, the company is pursuing non-operated working interest acquisitions in the Midland, Delaware, and Williston oil basins and Barnett, Fayetteville, Haynesville and Marcellus/Utica natural gas basins (Riverbend XI and/or successors). These hydrocarbon asset focused prospects are complimented by the growing energy transition opportunities that Riverbend is actively evaluating (Riverbend X). “Our team has delivered a great result for a group of esteemed institutional investors once again through the execution of our proven acquisition and asset management process, leveraging our proprietary systems and in-house developed technology to aggregate high value assets,” said Randy Newcomer, Jr., Riverbend’s CEO. “We have now successfully monetized seven separate funds since our founding in 2003, establishing a consistent and enviable track record of value creation that reflects the excellence of our various disciplines as well as the grit and determination of our team to unearth opportunities in a highly volatile and dynamic business environment. We will continue to provide similar investment opportunities to institutional investors in the traditional energy business, alongside our rapidly expanding energy transition segment.” Recent Key Personnel Addition Riverbend Energy Group also announced the addition of Ritu Sachdeva to augment the energy transition business. Ritu Sachdeva joined the Riverbend team in June of 2022 as a Managing Director in the Energy Transition practice. She has over 18 years of leadership experience in Energy and Transition investing and operations. Prior to joining Riverbend, she served as the Chief Strategy Officer of Innowatts, a leading AI-enabled decarbonization SaaS platform, managing company strategy, fundraising, growth opportunities and partnerships. Prior to Innowatts, Ritu served in multiple senior management positions for Fortune 500 and FTSE 100 energy companies for 13 years. Ms. Sachdeva holds a BA in Economics and an MBA from University of Delhi and a Masters in Energy Finance from University of Texas at Austin. About Riverbend Energy Group Riverbend Energy Group, based in Houston, Texas, is a multi-faceted investment firm, utilizing risk-weighted deal evaluation processes to deploy capital into a variety of investment theses in the U.S. energy sector. As a trusted name in the energy investment space, Riverbend’s portfolios have included, and continue to include, operated, non-operated, and mineral and royalty assets in traditional energy, as well as investments in the energy transition sector. Since 2003, Riverbend has successfully acquired, developed, and managed over $5 billion of total enterprise value across ten asset portfolios. For more information, visit riverbendenergygroup.com . Contacts