Investors - SEPTEMBER 3, 2014

Blackstone makes another investment in energy

by Andrea Waitrovich

Affiliates of Blue Water Energy and Blackstone Energy Partners and Singapore’s sovereign wealth fund GIC have agreed to lead an initial investment of up to $500 million in Siccar Point Energy, an exploration, development and production company focused on the North Sea, particularly on the U.K. Continental Shelf.

The commitment follows Blackstone Energy Partners’ purchase of Haynesville shale assets of SWEPI LP and Shell Gulf of Mexico, affiliates of Royal Dutch Shell Plc, for $1.2 billion. The assets comprise more than 107,000 net acres in North Louisiana in the core of the Haynesville Shale natural gas shale basin. The acquisition was made on behalf of Vine Oil & Gas, which was formed earlier this year by Blackstone with the intent of becoming a significant, independent shale development company.

And earlier in August, Blackstone and Dangote Industries announced a commitment by Black Rhino, a portfolio company of Blackstone Energy Partners and affiliated funds managed by Blackstone, and Dangote Industries to jointly invest up to $5 billion over the next five years in energy infrastructure projects across sub-Saharan Africa with a particular emphasis on power, transmission and pipeline projects.

In July, Blackstone Energy Partners formed an $800 million partnership with Tamarind Energy, which focuses on oil and gas development in Southeast

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