The first Legend partnership, Legend Natural Gas, LP, was formed in 2001 by James A. Winne III and Michael Becci. It was the first portfolio company funded by Riverstone/Carlyle Global Energy and Power Funds in the exploration and production sector. The partnership acquired and developed producing properties in South Texas until the sale of its assets to Chesapeake Energy in 2004. Legend Natural Gas II was then formed in 2004 followed by the formation of Legend Natural Gas III, LP in 2006 and Legend Natural Gas IV, LP in 2009. These Legend partnerships continue today as Legend Production Holdings. The relationship between Legend and Riverstone is the longest of any Riverstone portfolio company. Riverstone has invested $1 billion in upstream assets through the various Legend partnerships.