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Shell may sell stake in Haynesville Shale

  // Monday, 11 August 2014 07:24 //
Haynesville Shale
Haynesville Shale

Advocate staff report

Blackstone Group LP is close to inking a billion-dollar deal for Royal Dutch Shell PLC’s half of 350,000 acres leased in north Louisiana’s Haynesville Shale, according to the Wall Street Journal.

Shell is part of a joint venture in the natural gas formation. the deal would be the latest in which a private equity firm bought oil-and-gas reserves.

Earlier this year, Apollo Global Management LLC and Houston-based Halcón Resources Corp. formed a joint venture to develop the energy company’s 300,000-plus acres in the Tuscaloosa Marine Shale, an oil formation that covers Louisiana’s midsection and extents into Mississippi.

Apollo could invest as much as $400 million in the venture. Apollo also announced it would buy Encana Corp.’s natural-gas leases in Alberta, Canada, in a $1.8 billion deal.

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Metairie, Louisiana

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