Blackstone is considering selling Natural Gas Explorer Olympus Energy
Private equity firm Blackstone reported that it is considering selling Olympus Energy, a natural gas explorer based in Canonsburg, Pennsylvania Bloombergcite people who are familiar with this issue.
Natural gas explorers operating in the Appalachian region could sell the sale value to around $2 billion.
Alternate Asset Managers are to work with financial advisors to find potential buyers for natural gas companies.
No final decision has been made and Blackstone may choose to retain ownership. The discussion is now confidential, sources report.
A representative from Blackstone declined to comment on the issue, and Olympus Energy has not yet responded to requests for comment, the publication reported.
Founded as Huntley & Huntley Energy Exploration, which was rebranded in 2012 in 2019, Olympus Energy operates on approximately 100,000 pure acres in southwestern Pennsylvania, USA.
In early 2024, Chesapeake Energy agreed to merge with Southwest energy in a $7.4 billion deal, forming what is said to be the largest natural gas producer in the United States. This merged entity is now known as extended energy.
The Blackstone Company oversees more than $100 million in assets.
In November 2024, Blackstone Credit & Insurance (BXCI), a Blackstone unit, was formed. Midstream Joint Venture (JV) EQT, a US-based natural gas producer.
The JV includes EQT’s key infrastructure assets, including the Mountain Valley Pipeline (MVP), transmission and storage facilities, and the Hammerhead pipeline.
According to the terms of the transaction, BXCI must invest $3.5 billion in cash in uncontrolled stock shares and value the JV at $8.8 billion.
“Blackstone’s Heavy Natural Gas Explorer Olympus Energy Sale” was originally created and published Offshore Technologya brand owned by GlobalData.
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