GSO Capital Partners, the credit platform of Blackstone, has formed Sequel Energy Group II (Sequel II), a private, Denver-based oil and gas company.
GSO and the current management team, led by industry veterans Doug York, Jeff Hemphill and Dave Kornder, formed Sequel Energy Group (Sequel I) in November 2016 with an initial capital commitment in excess of $500 million. Over the past two years, Sequel I has deployed this capital in four separate drilling joint venture transactions.
Consistent with its current strategy, Sequel II will target structured investments in non-operated oil and gas working interests in proven resource plays throughout North America. The additional $500 million capital commitment from funds managed by GSO and the founding members of Sequel will bring combined committed capital to the Sequel platform to more than $1 billion, making the company a leader in its market.
Sequel will continue to benefit from its large and flexible capital base and the technical expertise of its management team and has developed a reputation as the preferred partner for operators seeking capital to support the development of their oil and gas assets. The Sequel management team has over 80 years of combined experience in the exploration, development, and operation of oil and gas fields across nearly every major producing basin in the United States.
