Ridgewood Energy closes latest fund at $1.1 billion

Ridgewood Energy Corp.

Ridgewood Energy Corp., a private upstream oil and gas investment company based in Montvale, New Jersey, and Houston, Texas, has closed its latest private equity fund, Ridgewood Energy Oil and Gas Fund II LP, with total commitments of $1.1 billion, reaching its hard cap. 

The fund, which had an original target amount of $750 million, has been formed by Ridgewood to invest in exploration and production of oil projects in the US deep waters of the Gulf of Mexico.

Fund II has already invested in two oil wells, one of which, the Dantzler Project, was drilled in partnership with Noble Energy Inc. (NYSE: NBL) and resulted in an oil discovery.

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