Blackstone Energy Partners, Jetta form pure play Delaware Basin acquisition partnership

Blackstone (NYSE:BX) and an affiliate of Jetta Operating Company Inc. have formed Jetta Permian LP. Jetta Permian will target assets and leasehold in the Delaware Basin located in West Texas and southern New Mexico with $1.0 billion of capital committed from Blackstone Energy Partners LP and Jetta’s partners.

Jetta’s strategy includes pursuing asset and leasehold acquisition opportunities, farm-in transactions and partnerships or joint ventures with existing operators and landowners.

Kirkland & Ellis LLP counseled Blackstone on the formation of Jetta Permian LP.

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