Law360, New York (February 09, 2012, 1:02 PM ET) -- Private equity giant The Blackstone Group LP and portfolio company GeoSouthern Energy Corp. have closed a $1 billion credit facility that will be used to develop GeoSouthern's Texas oilfield plays, the companies announced Thursday.
GeoSouthern will use the borrowing base facility to develop its 173,000 gross acre position in the fossil fuel-rich Eagle Ford shale, located in the southern and eastern parts of Texas, the companies said.
With the financing, GeoSouthern is now fully financed and self-funded for its capital expenditure and investment programs, it said....
Simpson Reps Blackstone On $1B Financing For TX Energy Co.
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