Stamford, Conn.-based GE Energy Financial Services, a unit of GE (NYSE: GE), plans to acquire West Texas natural gas assets and North Dakota oil and gas reserves for a total of approximately $200 million in separate transactions.
In the first transaction, GE Energy Financial Services has partnered with independent company Marlin Energy LLC, Lafayette, La., in an alliance named Marlin Permian LP, to acquire assets in West Texas from an undisclosed seller for $65 million. GE Energy Financial Services will be the limited partner and Marlin Energy will serve as both general partner and operator.
In the second transaction, GE Energy Financial Services has joined Sequel Energy LLC, Denver, to acquire oil and gas reserves in the Williston Basin of North Dakota from Denver-based St. Mary Land & Exploration Co. (NYSE: SM) for $137 million. GE Energy Financial Services will be limited partner; Sequel will be general partner and operator.
No other details of the transactions were disclosed.
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