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The Deal: Chevron Canadian Unit Buys Shale Assets for $1B

In 2011 Blackstone and privately-held Alta Resources agreed to invest as much as $1 billion in Alta Energy Partners--headed by Alta Resources CEO Joseph Greenberg --to acquire and develop unconventional oil and natural gas assets in North America.

Greenberg, who had previously worked as a geologist at Royal Dutch Shell and Edge Petroleum, joined forces several years ago with recently deceased shale pioneer George Mitchell to develop the Fayetteville shale field in Arkansas and Texas and ended up posting about an eightfold gain on its sale.

Written by Claire Poole.

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