GeoSouthern Energy closes on $1 billion facility with Blackstone

By Ashley Montgomery

Kansas City, Kan., Feb. 9 - GeoSouthern Energy Corp. closed on its $1 billion borrowing base facility with Blackstone, the company announced in a news release.

"This transaction, together with our partnership with Blackstone, ensures that the company has the right capital base and support to continue to fuel the long-term future growth and development of our Black Hawk field in the Eagle Ford, as well as the company's other assets," GeoSouthern founder and chief executive officer George Bishop said in a news release.

The company will use the new facility to fund the company's 50% working interest in the Black Hawk field in Texas, a joint venture for which GeoSouthern will handle production and post-drilling activities. Further proceeds will fund other company projects.

GeoSouthern is an exploration and production company based in the Woodlands, Texas. Blackstone is an investment and advisory firm based in New York.

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