Riverstone Holdings LLC Completes C$1.1 Billion Acquisition of Gibson Energy

Dec 12, 2008
    NEW YORK, Dec. 12 /CNW/ -- Riverstone Holdings LLC ("Riverstone") today
announced that the previously announced acquisition of Gibson Energy
("Gibson") by funds affiliated with Riverstone has closed. Under the terms of
the merger agreement, following the closing of the merger, Hunting Plc will
receive C$1.1 billion plus adjustments in total consideration.Gibson Energy, based in Calgary, Canada is a leading midstream energy
company, having moved over 280 million barrels of crude and refined products
in 2007. Since 1953, the Company has played a meaningful role in Western
Canada's oil and gas industry by linking upstream producers with downstream
refiners. Gibson consists of five diversified business divisions including
Terminals and Pipelines, Truck Transportation, Marketing, Moose Jaw Processing
and Wellsite Fluids, and Propane Marketing and Distribution (Canwest). The
Gibson network of assets consists of over 3.4 million barrels of crude storage
capacity, 11 terminals, 290 miles of pipeline, over 1,180 truck trailers, 49
propane distribution branches and a 16,000 barrel per day processing facility.About Riverstone Holdings LLCRiverstone Holdings LLC, an energy and power-focused private equity firm
founded in 2000, has approximately US$16 billion under management across six
investment funds. Riverstone conducts buyout and growth capital investments in
the midstream, exploration & production, oilfield services, power and
renewable For sectors of the energy industry. With offices in New York, London
and Houston, the firm has committed approximately US$10.8 billion to 58
investments in North America, Latin America, Europe and Asia. For more
information, visit www.riverstonellc.com.Contacts:
    For Riverstone Holdings:
    Jeffrey Taufield or Michael Freitag
    Kekst and Company
    212-521-4800

              
For further information: Jeffrey Taufield or Michael Freitag, Kekst and Company, +1-212-521-4800, for Riverstone Holdings Web Site: http://www.riverstonellc.com