Reuters: Blackstone looking to sell Gulf of Mexico oil exploration venture

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

Blackstone Group (NYSE:BX) and privately held LLOG Exploration are working with Barclays to sell their Gulf of Mexico oil exploration joint venture for more than $2B, Reuters reports.

The LLOG Bluewater JV was announced in 2012 with a pledge to invest more than $1.2B to bolster LLOG’s operations in the Gulf.

Louisiana-based LLOG is one of the largest private oil and gas explorers in the Gulf of Mexico, with 2017 average gross production of 135K boe/day.

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