Jan 20 (Reuters) – Blackstone is in talks to sell its Beacon Offshore Energy, which operates oil and gas assets in the U.S. Gulf of Mexico, for more than $5 billion, a source familiar with the matter said on Tuesday. Earlier in the day, Bloomberg News reported that Blackstone has begun early discussions with investment […]
Business
Blackstone weighs $5 billion sale of Beacon Offshore, source says
Audio By Carbonatix
Jan 20 (Reuters) – Blackstone is in talks to sell its Beacon Offshore Energy, which operates oil and gas assets in the U.S. Gulf of Mexico, for more than $5 billion, a source familiar with the matter said on Tuesday.
Earlier in the day, Bloomberg News reported that Blackstone has begun early discussions with investment banks about a potential initial public offering of the Houston-based company as soon as the first quarter.
The company is expected to attract interest from major Gulf of Mexico producers, the report said.
(Reporting by Katha Kalia in Bengaluru)