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Blackstone to invest $1.5B on Permian Basin oil and gas acquisitions

Aug. 25, 2016 5:47 PM ETBlackstone Inc. (BX) StockBy: Carl Surran, SA News Editor15 Comments
  • Blackstone Group (NYSE:BX) says it will invest ~$1.5B in the Permian Basin in Texas and New Mexico to make strategic acquisitions through two new ventures.
  • The P-E firm says it will partner with privately-held Jetta Operating to pursue asset and leasehold acquisitions in the Delaware sub-basin of the Permian, and with start-up Guidon Energy to form a new company focused on the Midland sub-basin of the Permian to purchase an initial acreage position.

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