Carlyle, EOG Resources enter $400M drilling partnership

Global alternative asset manager The Carlyle Group LP (NASDAQ: CG) and EOG Resources Inc. (NYSE: EOG) have entered into a definitive agreement to fund the development of EOG’s oil and gas assets in Ellis County, Oklahoma. As part of the joint venture, Carlyle Energy Mezzanine Opportunities Fund II LP will fund up to $400 million for the development program over four years.  After certain performance hurdles are achieved in the program, Carlyle’s working interests will largely revert to EOG.

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