Blackstone considers sale of Beacon Offshore Energy for $5bn

Blackstone is considering selling Gulf of Mexico (GoM) relation Beacon Offshore Energy successful a woody that could beryllium valued astatine much than $5bn, according to a study by Bloomberg.

The outlet said Blackstone is successful talks with concern banks astir a imaginable process that could statesman arsenic aboriginal arsenic this quarter, citing radical acquainted with the matter.

Beacon Offshore Energy is apt to garner important involvement from different lipid and state producers successful the GoM, wherever Chevron, bp and Shell are large players.

However, nary definitive determination has been reached, and Blackstone whitethorn besides take not to proceed with the sale, the sources indicated.

In caller years, consolidation wrong the US upstream assemblage has predominantly focused connected shale operators owed to decreasing crude prices and a simplification successful premier drilling locations connected land.

This displacement contributed to a revitalisation of drilling activities successful the Gulf.

Beacon Offshore Energy holds immoderate of the astir productive wells successful the US, utilising precocious exertion to entree difficult-to-reach crude reserves.

Last December, Harbour Energy’s acquisition of Gulf explorer LLOG Exploration for $3.2bn (£2.38bn) underscored the ongoing involvement successful offshore drilling assets. The statement comprised $2.7bn successful currency and $500m successful Harbour's voting mean shares.

As portion of its evolving concern strategy, Blackstone has divested astir of its lipid and state assets, including past year's merchantability of Olympus Energy.

The alternate plus manager established Beacon Offshore Energy successful 2016 with an nonsubjective to make an offshore drilling entity successful the deepwater Gulf.

Currently, Beacon Offshore Energy maintains interests successful 68 deep-water leases spanning astir 400,000 gross acres.

The institution precocious began accumulation of lipid and earthy state astatine the Zephyrus tract successful Mississippi Canyon Block 759, astir 130 miles (209km) south-east of New Orleans.

Production has started from the archetypal good successful the field, which is positioned astatine h2o depths ranging from 3,100ft (945m) to 3,600ft.

In July 2025, Beacon Offshore Energy began accumulation of lipid and earthy state from the Shenandoah tract disconnected the seashore of Louisiana.

"Blackstone considers merchantability of Beacon Offshore Energy for $5bn" was primitively created and published by Offshore Technology, a GlobalData owned brand.

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