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Apollo Global Management Gets Stake In Eagle Ford and Permian Basin Assets

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New York-based investment management firm Apollo Global Management LLC (NYSE: APO), along with private-equity firm Riverstone Holdings LLC and Access Industries Inc., have completed the acquisition of all of the oil and gas E&P assets of El Paso Corp., Houston, (NYSE: EP) for approximately $7.15 billion.

El Paso’s upstream assets assets included programs in the Eagle Ford shale, an Altamont multipay oil program in the Uintah basin in Utah, a Wolfcamp shale oil program, and a natural gas-directed program in the Haynesville shale. During the first quarter of 2012, the Company’s production volumes rose 11 percent and its oil and condensate production rose 66 percent from the same period last year.

“We are excited about our partnership with Apollo, Riverstone, and our other…

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