(World Oil) – Blackstone Inc. is in the early stages of weighing a sale of Beacon Offshore Energy, a Gulf of Mexico driller it’s owned for about a decade that could fetch more than $5 billion, according to people familiar with the matter. The alternative asset manager is talking to investment banks about bringing the Houston-based company to market as soon
(World Oil) – Canada has cleared a C$10 billion ($7.3 billion) floating facility to export liquefied natural gas off its northwest coast as soon as 2028. Ksi Lisims LNG — backed by Blackstone Inc.-funded Western LNG, as well as Rockies LNG Partners and the Nisga’a Nation, an Indigenous group that owns the development land — is the first such major
(BOE Report) – Asset management firm Blackstone will announce on Tuesday a $25 billion investment in data centers and energy infrastructure in Pennsylvania, Chief Operating Officer Jon Gray said at a panel at the Energy and Innovation Summit in Pittsburgh. Gray said Blackstone had identified several sites to build large data centers and would also later be announcing with a
Nasdaq Vine Energy, a Blackstone-backed natural gas E&P operating in Louisiana’s Haynesville Basin, filed on Monday with the SEC to raise up to $100 million in an initial public offering. However, this is likely a placeholder for a deal that we estimate could raise up to $300 million. The company previously filed to raise $500 million in April 2017, but
Reuters JERUSALEM – Israel’s Navitas Petroleum said on Tuesday the Blackstone Group signed a preliminary deal to raise its stake in a drilling project in the Gulf of Mexico to 47% from 16%. Navitas had partnered with U.S. oil firm LLOG and Blackstone’s portfolio company Beacon Offshore Energy in drilling at the Shenandoah discovery that holds 431 million barrels of
Reuters LONDON/NEW YORK – Warburg Pincus is considering selling five of its eight international oil and gas investments after the coronavirus crisis hit demand, sources familiar with the matter said. The U.S. investment firm, which has more than $54 billion in private equity assets under management, has committed or invested some $13 billion into energy over the last decade, with
Reuters HOUSTON – Tallgrass Energy (TGE.N) shareholders on Thursday backed a buyout by a Blackstone-led (BX.N) group that valued the U.S. oil pipeline operator at $6.3 billion, a rare case of a pre-market crash deal going ahead without a price cut. Terms were struck ahead of this year’s collapse in energy prices that has U.S. oil producers cutting output and
Source: Reuters RIYADH (Reuters) – What a difference a year makes. There was standing room only in the expansive halls of Riyadh’s Ritz-Carlton hotel on Tuesday as the world’s financial royalty attended Saudi Arabia’s Future Investment Initiative (FII) conference, aimed at courting global investors. Saudi Arabia said it signed over two dozen investment deals worth $15 billion, mostly in the
By Tyler Losier, Energy Reporter, Oil & Gas 360 Tallgrass Energy receives preliminary proposal letter from Blackstone Infrastructure Partners offering to take the company private Tallgrass Energy LP (stock ticker: TGE), a midstream infrastructure company, received a non-binding preliminary proposal letter from Blackstone Infrastructure Partners (stock ticker: BX) on Tuesday, offering to acquire all of the outstanding Class A shares
Shale driller said it would explore sale after Elliott offer of $2 billion From Bloomberg QEP Resources Inc. has attracted takeover interest from private equity giant Blackstone Group LP, as well as drillers Whiting Petroleum Corp. and Callon Petroleum Co., according to people familiar with the matter. The Denver-based natural gas and oil explorer and producer said in February that it would explore a sale after activist investor Elliott
Another full-cycle provider of water management services–including water gathering, treatment, recycling and disposal–is moving from idea toward reality in the Permian Basin. Waterfield is the name of Blackstone’s (NYSE:BX) newly launched water midstream platform in the Permian Basin. The venture is backed by a $500-million equity commitment to pursue greenfield development and acquisitions of water-related infrastructure by funds of Blackstone Energy
Osprey Energy Acquisition Corp. announced today that it has reached a definitive agreement to acquire assets held by Royal Resources, a Blackstone owned entity, in exchange for $400 million cash and an ownership stake representing 47% of the outstanding common stock. The acquired assets from Royal Resources represent 100% of Blackstone’s mineral interests in the Eagle Ford Shale. The newly
