The Blackstone Investment Capital Company plans to sell Olympus Energy, a natural gas explorer based in canonsburg, Pennsylvania, reported Bloombergquoting people familiar with the problem.
The sales value of the natural gas explorer operating in the Appalachian region could be around $ 2 billion.
The Asset Manager alternative works with financial advisers to find a potential buyer for the natural gas company.
No final decision has been made and Blackstone can choose to keep the property. Currently, discussions are confidential, sources have reported.
A Blackstone representative refused to comment on the issue, and Olympus Energy has not yet answered the requests for comments, the publication reported.
Created in 2012 under the name of Huntley & Huntley Energy Exploration, Olympus Energy, which was renamed in 2019, operates on approximately 100,000 net acres in southwest Pennsylvania, in the United States.
At the beginning of 2024, Chesapeake Energy agreed to merge with Southwestern Energy in an agreement of $ 7.4 billion, forming what would be the largest natural gas producer in the United States. This merged entity is now known as extended energy.
Blackstone Company oversees more than $ 1 billion in assets.
In November 2024, Blackstone Credit & Insurance (BXCI), a blackstone unit, formed a intermediate joint venture (JV) with EQT, a natural gas producer based in the United States.
The JV encompasses the active ingredients of the key EQT infrastructure, including the Mountain Valley (MVP) pipeline, the transmission and storage facilities and the Hammerhead pipeline.
Under the terms of the agreement, BXCI is required to invest $ 3.5 billion in cash for a control without control, evaluating the JV at $ 8.8 billion.
“Blackstone weighs the sale of the Olympus Energy natural gas explorer” was originally created and published by Offshore technologyA brand belonging to GlobalData.
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