The Blackstone Group LP - 2012-02-16


GeoSouthern Energy Corporation and Blackstone closed a $1-billion borrowing base facility. Proceeds will be used to continue the development of GeoSouthern's 173,000 gross acre position in the condensate and oil windows of the Eagle Ford shale play.
Funds from the credit facility will primarily be used to fund and develop the company's 50% working interest in the Black Hawk field. Funding will also be used to develop the company's 68,000-acre position in Gonzalez, Lavaca and Fayette counties, Texas.

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