NEW YORK (TheStreet) -- Shares of Blackstone Group LP (BX) are up 2.12% to $33.68 in pre-market trade after it was reported that the private equity firm is nearing a deal to acquire Royal Dutch Shell's (RDS.A)half-stake in a huge Louisiana gas field, sources told the Wall Street Journal.
The deal could value Shell's stake in the asset at over $1 billion, sources said.
The deal includes Shell's half-stake in a joint venture that owns more than 350,000 acres within the Haynesville Shale, a gas-filled rock formation buried deep in northern Louisiana and east Texas, the Journal said.
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TheStreet Ratings team rates BLACKSTONE GROUP LP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate BLACKSTONE GROUP LP (BX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."
Highlights from the analysis by TheStreet Ratings Team goes as follows: