Deals
Blackstone Said to Be in Talks to Buy Shell Gas-Field Stake
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Blackstone Group LP, the private-equity firm led by billionaire Stephen Schwarzman, is in advanced talks to acquire Royal Dutch Shell Plc’s 50 percent stake in a shale-gas field in Louisiana, according to a person familiar with the matter.
Blackstone would pay about $1.2 billion for Shell’s half-interest in the Haynesville formation, the person said. The deal would follow a parade of gas-acreage sales by oil companies including Shell and Apache Corp. to investors as they trim holdings amassed when natural-gas prices were higher.