Blackstone, Oil Producer Plan $2B Gulf Export Project

Law360, New York (December 18, 2012, 3:57 PM EST) -- A month after announcing a $1.2 billion oil exploration partnership, private equity giant The Blackstone Group LP and LLOG Exploration Co. LLC have agreed to build a $2 billion oil and gas export line project in the Gulf of Mexico, they said Tuesday.

The Delta House project will be located in Mississippi Canyon 254, a lease block of the 120-kilometer (75-mile) undersea canyon south of Louisiana where LLOG holds leases on several fields that will funnel production to the new project's oil export line, gas export...
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