Private equity giant the Blackstone Group will team with LLOG Exploration Company on a strategic partnership to develop offshore oil and gas assets in the Gulf of Mexico. In total, the two companies will invest $1.2 billion in the project.
November 13, 2012 at 12:00 AM
1 minute read
Private equity giant the Blackstone Group said Tuesday it has agreed to team up with Covington, Louisiana–based energy outfit LLOG Exploration Company on a strategic partnership through which the two parties will invest a combined $1.2 billion to develop offshore oil and gas assets in the Gulf of Mexico.
The amount each company is investing was not disclosed.
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