Vine, Blackstone Energy Partners To Buy Shell's Haynesville Assets For $1.2 Bln

By RTT News, 
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(RTTNews.com) - Vine Oil & Gas LP and Blackstone Energy Partners, an affiliate of private equity firm Blackstone Group L.P. ( BX ), said Thursday that they have agreed to buy the Haynesville assets of SWEPI LP and Shell Gulf of Mexico Inc., affiliates of Royal Dutch Shell plc (RDSA, RDSB), 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.

Vine Oil & Gas is a partnership formed earlier this year by Blackstone Energy Partners and funds affiliated with Blackstone with the intent of becoming a significant, independent shale development company.

The deal is expected to close in the fourth quarter of 2014.

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Referenced Stocks: BX , RDSA , RDSB

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