There are what you call “closely held” oil and gas producers and then there is The Woodlands, Texas-based GeoSouthern Energy—a company so private, it managed to stay off the media radar until late 2013, nearly 32 years after its formation. (Don’t bother looking for a website; there is none.) Quite suddenly, all eyes were fixated on this little-known E&P when it sold 82,000 acres in the Eagle Ford to Okla. City-based Devon for $6 billion in cash. A year later, GeoSouthern purchased 112,000 acres and 300 operating wells in the Haynesville from Encana (now Ovintiv) for $850 million. Reese Energy Consulting today is following the latest news on GeoSouthern and its financial partner Blackstone, which now are teasing a potential sale of those Haynesville assets for $2 billion. And there are bound to be some serious tire-kickers eager to pounce on a basin set to become the nation’s largest source of dry gas by 2035, with production increasing by 86%, or 10 BCFD. Memory tickler: Blackstone was the largest shareholder in Vine Energy upon the $2.2 billion sale of that company’s Haynesville assets last month to Chesapeake, the largest acreage holder there.
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Independent Oil & Gas Producing Company specializing in production of Austin Chalk and Eagle Ford unconventional formations. The company produces oil and gas and has substantial acreage positions in Gonzales and Lavaca counties in Texas. The corporate office is located in The Woodlands, TX.