Guidon Energy, Blackstone partner in Permian basin land grab

DALLAS and NEW YORK -- Guidon Energy, an oil and gas partnership headquartered in Dallas, and Blackstone Energy Partners, an energy-focused private equity business, have announced their recently formed platform company in the Midland basin and the acquisition, in April of this year, of approximately 22,000 gross acres (16,000 net acres) in the core of Martin County, Texas.

Blackstone Energy Partners and funds affiliated with Blackstone have committed approximately $500 million of capital to Guidon with the potential to commit significantly more with future acquistions.

Blackstone and Jay Still formed Guidon in first-quarter 2016 with the intent of building a significant, independent shale development company focused on the Midland basin. Guidon’s objective is to optimally develop its leasehold through manufacturing styled horizontal well development.

Guidon is led by Still, who previously held senior executive positions with both Pioneer Natural Resources and Laredo Petroleum, and a team of veteran oil and gas executives with operational experience across a range of basins in North America.

Jay Still, president and CEO of Guidon Energy, said, “Blackstone’s successful and deep track record of investing in energy and in the oil and gas sector specifically, and its extensive industry relationships, in combination with the Guidon team’s operational capabilities and experience, will allow us to continue to optimally develop our properties and to be a long-term partner of choice in the Midland basin. We are very pleased to have acquired a significant, strategic, and top-tier position in the core of the Midland basin, a premier North American liquids-rich play, which was signed in the second quarter of this year and has subsequently closed.”