One-Page Deal Sheet
LLOG and Blackstone Form Joint Venture for Gulf of Mexico
Blackstone LLOG Exploration
Announced Date
November 13,2012
Close Date
November 13,2012
Transaction Type
JV
Enterprise Value (EV)($MM)
1200
Asset/Basin:
{"Gulf of Mexico"}
Transaction Details: Require Private Equity Subscription
LLOG Exploration Company L.L.C. and Blackstone today announced the formation of a long-term, strategic partnership and have committed to invest over $1.2 billion to expand and accelerate LLOG’s offshore operations in the Gulf of Mexico. The partnership will leverage the combined operational and financial resources of LLOG and private equity funds managed by Blackstone (collectively with their affiliates “Blackstone”) to expedite development of LLOG’s four recent deepwater discoveries as well
as the exploration and appraisal of its extensive prospect inventory, which includes over 110 offshore…
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