Blackstone To Raise Stake in The Gulf of Mexico

  • Jul 29, 2020 NZST
  • Team Kalkine
Blackstone To Raise Stake in The Gulf of Mexico

Blackstone Group signs a primary deal to raise its stake in a drilling project at the Gulf of Mexico.

  • The Israel-based Navitas Petroleum mentioned that the Blackstone Group is aiming to raise its current stake at the Gulf of Mexico from 16 per cent to 47 per cent.
  • Navitas had partnered with LLOG- a U.S-based oil firm and Beacon Offshore Energy- a portfolio company of Blackstone for drilling at the Shenandoah discovery, which holds 431 million barrels of oil.
  • As per Navitas, Blackstone is now buying 31 per cent of LLOG’s holdings in the USD 250 million project.

 


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