Vine Oil & Gas LP, a recently formed exploration and production company headquartered in Dallas, and Blackstone Energy Partners, an affiliate of Blackstone will acquire the Haynesville assets of SWEPI LP and Shell Gulf of Mexico Inc., affiliates of Royal Dutch Shell plc, for $1.2 billion.
The assets comprise over 107,000 net acres in North Louisiana in the core of the Haynesville Shale natural gas shale basin. The transaction is subject to customary closing conditions and regulatory approvals, and is expected to close by the end of the year.
Vine Oil & Gas is a partnership formed by Blackstone Energy Partners and funds affiliated with Blackstone, a leading global, alternative investment manager. Vine was formed earlier this year by Blackstone with the intent of becoming a significant, independent shale development company.
“We are pleased to acquire and develop a significant, strategic, and top-tier position in the core of the Haynesville Shale, a premier North American unconventional dry gas play located next to multiple growing sources of demand and an area where we have operated extensively before,” said Eric Marsh, president and CEO of Vine. “Blackstone’s successful track record of investing in energy and the oil and gas sector specifically, and extensive industry relationships, in combination with the Vine team’s operational capabilities and experience, will allow us to continue to optimally develop these properties and be a partner of choice in the region over the long- term.”
- Energies Media Staffhttps://energiesmedia.com/author/oilmanwp/
- Energies Media Staffhttps://energiesmedia.com/author/oilmanwp/
- Energies Media Staffhttps://energiesmedia.com/author/oilmanwp/
- Energies Media Staffhttps://energiesmedia.com/author/oilmanwp/
- Energies Media Staffhttps://energiesmedia.com/author/oilmanwp/
- Energies Media Staffhttps://energiesmedia.com/author/oilmanwp/
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