Zavanna, LLC, an upstream oil and natural gas company formed in 1994 by industry veteran William L. (‘Bill’) Coleman, announced that GSO Capital Partners LP, a division of Blackstone (NYSE: BX), along with Zavanna’s existing management, have formed a partnership, River Bend Oil & Gas, LLC, focused on the acquisition and development of upstream assets in core areas of the Williston Basin. Since the partnership was formed in June 2013 with a $200 million Preferred Equity Commitment from affiliates of GSO and a contribution of assets by Zavanna, the River Bend team has closed over 30 separate acquisitions for over $100 million and has committed substantial additional capital to fund drilling. River Bend is participating as a non-operating working interest partner in Zavanna’s development program, including a 3 rig program and over $200 million gross operated capital budget for 2014. Bill Coleman, CEO and founder of Zavanna, commented, “I am pleased to announce this joint venture with GSO. GSO is an experienced and supportive investor, and we are excited to team up with them to form a dynamic entity in the Williston Basin to further develop the largest oilfield in North America.” Robert Horn and Tim Murray, Managing Directors of GSO, commented, “Zavanna is a preeminent operator in the Williston Basin, and has consistently demonstrated industry leading well results in the Bakken formation. We are delighted to have the opportunity to invest with Bill Coleman and the Zavanna team as they seek to expand their capital program and capitalize on compelling opportunities in the Williston Basin.” KLR Group, LLC served as financial advisor to Zavanna. About Zavanna Zavanna, LLC, headquartered in Denver, CO, is a premiere service upstream oil and natural gas company with expertise in exploration and development of the Williston Basin. Zavanna has drilled approximately 60 horizontal wells targeting the Bakken and Three Forks formations and is one of the largest private operators in the Williston with over 50,000 gross acres in the basin. For more information, please visit www.zavanna.com. About Blackstone and GSO Capital Partners Blackstone is one of the world’s leading investment and advisory firms with approximately $265 billion in assets under management as of December 31, 2013. It seeks to create positive economic impact and long-term value for investors, the companies it invests in, the companies it advises and the broader global economy. Blackstone does this through the commitment of extraordinary people and flexible capital. Blackstone’s alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-focused funds and closed-end funds. GSO, a division of Blackstone, is a leading credit-focused alternative asset manager, with approximately $65 billion of assets under management as of December 31, 2013. GSO has a global footprint with approximately 250 professionals, including a dedicated team of energy and power professionals with significant experience investing in energy and power sectors, among its offices in New York, Dublin, London and Houston. Further information is available at www.blackstone.com. Follow on Twitter @Blackstone.