Blackstone (BX) forms a JV with privately held LLOG Exploration to invest a combined $1.2B to...

|About: The Blackstone Group L.P. (BX)|By:, SA News Editor

Blackstone (BX) forms a JV with privately held LLOG Exploration to invest a combined $1.2B to develop the latter's oil discoveries in the Gulf of Mexico. LLOG has 90 undeveloped prospects in the Gulf, all of which will be owned and financed by the JV. The partnership represents the latest investment by a P-E firm in the Gulf of Mexico.