29 Aug 2016 The collapse of oil prices has ground shale drilling to a halt, but the one who oversees Blackstone's oil and gas investing, told The Wall Street Blackstone Oil and Gas was established in 2007 to invest in Texas, Oklahoma and California oil and gas opportunities. The company mission evolved, and Blackstone Oil has become a workout and turnaround specialty company for distressed oil and gas companies. Blackstone consults with such companies to facilitate their restructuring, secure financing as well as asset acquisition. Blackstone (NYSE:BX) today announced that it has formed Clarion Offshore Partners LLC (“Clarion”), a new platform to provide strategic solutions to the offshore oil and gas drilling and services sector, with a financial commitment from private equity funds managed by Blackstone. Clarion’s investment mandate is broad and flexible, enabling the partnership to pursue opportunities with a wide array of industry participants, including offshore drilling companies, shipyards, financial Pacifioco Project. Blackstone formed Pacifoco, Inc. (Pacifoco), as a wholly owned subsidiary. In 2016, Pacifoco acquired $2.2 Million of SCOC Creditor Claims negotiated by Company Contractors for the benefit of Pacifoco. This acquisition resulted net after expenses, Pacifoco Inc. in excess of $400,000 in first quarter 2018;
As a leader in alternative asset management, we partner with some of the world’s largest and most successful institutional investors, including major endowments, sovereign wealth funds and retirement systems. As careful stewards of capital, we strive to provide solutions in all investment environments – stable and volatile, good and bad.
According to Blackstone President Robert Deller, “we see tremendous growth for oil exploration and development in the United States over the next several years”, citing that “the US today is the top oil-producing country in the world, with an average of 14.86 million b/d, which accounts for 15.3% of the world’s production, presenting great opportunities for Blackstone and its shareholders as the US becomes more energy independent”. As a leader in alternative asset management, we partner with some of the world’s largest and most successful institutional investors, including major endowments, sovereign wealth funds and retirement systems. As careful stewards of capital, we strive to provide solutions in all investment environments – stable and volatile, good and bad. Our investments are designed to preserve and grow our limited partners’ capital, provide financial security for millions of retirees, sovereign wealth funds, and other institutional and individual investors, and contribute to overall economic growth. Blackstone is one of the world’s leading investment firms. Certain Creditor Claim Sellers are also Blackstone/ Pacifoco Directors/Afflicates including: Robert Deller, Mark Dodge, Edward Lear, Fred Oliver, GlobalVest/ Steven Sogard and Larry Carpenter. In 2016, Blackstone granted Pacifoco 5 year Options to purchase up to 300,000 Shares of Blackstone Common Stock at $3 Share. Total transactional costs to Blackstone included an additional approximate $30,000. Approximately $150,000-$300,000 will be jointly spent in first year of operations on the maintenance and site workover plan. Blackstone intends to fund additional Strawn working capital if needed from Use of Proceeds of this offering. Blackstone Oil & Gas, Inc. operates as an investment company. The Company invests in oil and gas sectors. Blackstone Oil & Gas offers restructuring, financing, consulting, operations, analyzing
Blackstone is an investment and advisory firm providing solutions that create value for investors and clients. This list of organizations invested in by Blackstone
Total transactional costs to Blackstone included an additional approximate $30,000. Approximately $150,000-$300,000 will be jointly spent in first year of operations on the maintenance and site workover plan. Blackstone intends to fund additional Strawn working capital if needed from Use of Proceeds of this offering.
