Blackstone and Vine to Shell Out $1.2B for Haynesville Assets
August 18, 2014
Vine Oil & Gas, an E&P company recently formed by The Blackstone Group, has agreed to acquire the Haynesville assets of Royal Dutch Shell 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 deal is expected to close in 4Q 2014. Vine partners with companies seeking to accelerate drilling activity and drive production growth, while lowering costs and maintaining a strong HSE track record.