Press Release (September 28, 2018)


On September 5th, 2018, Riverside Petroleum Indiana LLC, a member of the Riverside Energy Group (“Riverside”), purchased Plummer Field and its associated oil production operations in Greene County from Citizens Resource Production LLC.

The Plummer Field comprise 3,000 net acres of leasehold and interests in 74 operated oil wells producing from the Salem Limestone and Geneva Dolomite formations of southern Indiana. The field was initially discovered in 1969 and developed over the following years and has, to date, produced over 7.5 million barrels of oil.

Speaking on behalf of Riverside, Indiana President Bob Van Hoy stated: “We look forward to investing further into the Plummer Field to grow its production, to exploring associated opportunities, and continuing to make a positive impact on the community and local economy in Southern Indiana. Since its discovery almost half a century ago, the Plummer Field has been one of the largest and best operated of southern Indiana’s oilfields and we’re excited to have this opportunity to continue and improve on this legacy.”

Riverside is the oil and gas operations company of the Umbono Capital Group, a natural resources investment firm established in 1998 and specializing in natural resources assets. Umbono has a successful track record of investing in Africa, Europe and North America in both energy and mining ventures. Umbono’s energy team is based in the Woodlands, Texas, its mining hedge fund in London, UK and its mining operations team in Johannesburg, South Africa. Umbono’s combination of management, technical and investment capabilities provide a unique advantage in the mining and energy sectors in sourcing acquisition opportunities, closing transactions, and managing natural resources companies in a manner that maximizes value.

Riverside acquired El Paso’s New Albany Shale assets in Indiana in 2012, and Chevron’s Antrim Shale assets in Michigan in 2016. In aggregate, Riverside owns interests in and operates production of over 11,000 barrels of oil equivalent per day from over 3,000 oil and natural gas wells.


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