Angelo Acconcia, a Managing Director of Blackstone Energy Partners who oversees their oil and gas investments, said, “We are very excited to accelerate the growth of our partnership with Vine via this acquisition and to continue to grow through future partnerships, joint ventures or acquisitions. Our partnership capitalizes on our deep oil and gas investing experience in North America combined with a best-in-class management team at Vine who have significant operating and shale development experience and an impressive track record. Eric is an incredibly talented operator and he and his team are uniquely situated to contribute significant operational expertise to these assets as well as future opportunities, having successfully led multiple unconventional oil and gas development programs in the U.S. and Canada over the course of their careers.”Blackstone Senior Managing Director and CEO of Blackstone Energy Partners David Foley said, “Our partnership with Vine is consistent with our strategy of backing best-in-class managers to build world class companies across the energy spectrum.” Evercore and Kirkland & Ellis LLP advised Blackstone and Vine on the transaction. About Vine Oil & Gas Vine Oil & Gas is a Dallas, Texas-based exploration and production company formed by Blackstone earlier this year to back a veteran oil and gas operating team led by Eric Marsh, a former Executive Vice President of Encana, where he and a team of geologists, engineers, and technicians developed a favorable long-term track record of developing high-quality upstream natural gas assets and achieving continuous improvements in well performance at successively lower costs in a safe, environmentally responsible, efficient, and commercial manner. About Blackstone Energy Partners and Blackstone (NYSE:BX) Blackstone Energy Partners is Blackstone’s energy-focused private equity business, with a successful record built on Blackstone’s industry expertise and partnerships with exceptional management teams. Blackstone has invested approximately $7 billion of equity globally across a broad range of sectors within the energy industry.
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with almost $300 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.