Vine Oil & Gas to buy assets from Shell for $1.2bnStaff writer ▼ | August 15, 2014
Vine Oil & Gas LP and Blackstone Energy Partners announced a definitive agreement to acquire the Haynesville assets of SWEPI LP and Shell Gulf of Mexico Inc., affiliates of Royal Dutch Shell plc, for $1.2 billion.
SWEPI LP More than 107,000 net acres in North Louisiana
Vine Oil & Gas is a partnership formed by Blackstone Energy Partners and funds affiliated with Blackstone, a leading global, alternative investment manager. Vine was formed earlier this year by Blackstone with the intent of becoming a significant, independent shale development company.
Vine is led by Eric Marsh, previously a senior executive with Encana Corporation, and a team of veteran oil and gas executives with significant operational experience across a range of natural gas basins in North America and a long track record of best-in-class operations, optimizing well costs, recovery factors and production growth in an environmentally responsible manner. ■