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Vine Oil & Gas to buy assets from Shell for $1.2bn

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Staff 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.
Shell Gulf of Mexico
SWEPI LP   More than 107,000 net acres in North Louisiana
The assets comprise over 107,000 net acres in North Louisiana in the core of the Haynesville Shale natural gas shale basin. The transaction is subject to customary closing conditions and regulatory approvals, and is expected to close in the fourth quarter of 2014.

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.