Finance & Investing | Capital Markets | Private Equity Activity
GeoSouthern Raises $1.0B to Fund Eagle ford Drilling Operation
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GeoSouthern Energy Corporation and Blackstone (NYSE: BX) today announced the closing of a ~$1.0Bn borrowing base facility. Proceeds from the facility will be used to continue the development of GeoSouthern’s 173,000 gross acre position in the condensate and oil windows of the Eagle Ford shale play. When combined with prior equity and debt financings, this financing will result in the Company being fully financed and self-funded for its capital expenditure and investment programs. "This transaction, together with our partnership with Blackstone, ensures that the Company has the right capital base and support to continue to fuel the long-term future growth and development of our Black Hawk field in the Eagle Ford, as well as the Company's other assets" said GeoSouthern Founder and CEO…
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