Energy
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$500m Drilling Commitment

$500m Drilling Commitment $500m Drilling Commitment

Blackstone’s $70 billion credit arm, GSO Capital Partners, committed as much as $500 million to fund oil and natural gas development for Linn Energy LLC, according to Bloomberg. The Houston-based energy producer rose as much as 18 percent after the announcement, after losing almost 70 percent of its value in six months as crude prices plummeted.

 

Financialtribune.com