Apollo, Freepoint Sink $110M Into New Offshore Energy Co.

Law360, New York (August 19, 2013, 6:11 PM EDT) -- Apollo Global Management LLC, the credit arm of private equity firm Summit Partners LP and commodity merchant Freepoint Commodities LLC, said Monday they have bought two oil and gas blocks off the Louisiana coast for $110 million in order to seed a new offshore energy company.

The new entity, called Whistler Energy II LLC, acquired the shallow-water blocks, which are about 150 miles off the coast, from an Exxon Mobil Corp. affiliate and W&T Offshore Inc. One block, which comes with a platform, is already producing...
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