Blackbuck Resources Announces Innovative Sustainability-Linked Financing

HOUSTON–(BUSINESS WIRE)–Blackbuck Resources LLC (“Blackbuck”), which designs, builds, and operates water infrastructure, announced it has closed on a sustainability-linked term loan with Riverstone Credit Partners LLC, a dedicated energy and power credit fund managed by Riverstone Holdings LLC (“Riverstone”). The financing provides an initial commitment of $50 million plus an accordion feature, which gives Blackbuck additional liquidity for growth. The facility’s pricing will be adjusted based upon Blackbuck’s adherence to certain sustainability performance targets, which are defined by key performance indicators set internally by Blackbuck.

“This unique structure further supports Blackbuck’s commitment to being an industry leader in sustainability and demonstrates our ongoing efforts to find innovative solutions to reduce our cost of capital and bring differentiated value to our customers,” said Blackbuck CEO and President Justin Love. “The additional capital will allow us to expand the capabilities of our produced water platform and grow with our customers as partners in production.”

“We have a longstanding relationship with the Riverstone team and are excited to partner with one of the leading asset managers in the energy sector. More importantly, this partnership promotes Blackbuck’s environmental stewardship and commitment to the broader goal of decarbonization within the oil and gas industry,” added Blackbuck CFO Jamie Liang.

Chris Abbate, a Partner and Managing Director at Riverstone, said, “We are pleased to partner with Blackbuck on this next stage of environmentally sustainable growth. This capital commitment underscores Blackbuck’s track record of operational excellence and aligns with Blackbuck’s commitment to sustainability.”

Foley & Lardner LLP served as legal adviser to Blackbuck. Baker Botts L.L.P. served as legal adviser to Riverstone.

About Blackbuck Resources LLC

Based in Houston and Midland, Blackbuck designs, builds, and operates water infrastructure and provides services for the oil and gas industry, with a primary focus on the Permian Basin. The team is comprised of professionals with experience in water disposal and treatment, pipeline management, and oil and gas operations. Blackbuck is backed by private equity sponsor Cresta Funds Management. For more information, visit

About Riverstone Holdings LLC

Riverstone Holdings LLC is an energy and power‐focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with approximately $41 billion of capital raised. Riverstone conducts buyout, growth capital, and credit investments in the exploration & production, midstream, oilfield services, power, and renewable sectors of the energy industry. With offices in New York, London, Houston and Mexico City, Riverstone has committed over $40 billion to more than 190 investments in North America, Latin America, Europe, Africa, Asia and Australia. Visit for more information.

About Cresta Fund Management

Blackbuck is a portfolio company of Cresta Fund Management (“Cresta”), a growth-oriented private equity firm that invests in sustainable and conventional energy and industrial infrastructure. Founded in 2016 and headquartered in Dallas, Texas, Cresta Management’s founding partners are seasoned industry veterans who bring value across the investment cycle from initial diligence through business operations. For more information, please visit:


Erika Allgood
Phone: 713.804.9460

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