NOTES:
Navitas Petroleum cited that Blackstone Group signed a prelim deal to boost its stake in a Gulf of Mexico drilling project from 16% to 47%. The Shenandoah Discovery began as a partnership between Navitas, LLOG and Blackstone's Beacon Offshore Energy and it holds an estimated 431 million barrels of oil reserves.
Blackstone will buy LLOG's 31% position in the $250 million project through Beacon while Navitas retains its 53% stake. First oil is planned for 2024.
REGIONS:
Gulf of Mexico