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PE-Backed Haynesville E&P Mulling Asset Sale Worth $2.0 Billion
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Haynesville-focused E&P GeoSouthern Energy is considering a potential sale of its acreage portfolio, which could fetch ~$2.0 billion, according to a report by Reuters.
GeoSouthern is backed by private equity giant Blackstone.
Citing sources close to the matter, the assets in question are held by GeoSouthern subsidiary, GEP Haynesville LLC. They originally acquired the portfolio in 2015 from Encana Corp. (now Ovintiv Inc.) for $850 million.
The possible sale is said to be in the early stages and not set in stone.
GeoSouthern and Blackstone declined to comment on the matter.
Gas Asset Sales Boom in Current Price ClimateThis mirrors simlar moves being made by numerous companies who have assets in gas-heavy plays.
Earlier this week, Chevron announced that it was preparing to put its Eagle…
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