Blackstone weighs sale of natural gas explorer Olympus Energy

Private equity firm Blackstone is considering the sale of Olympus Energy, a natural gas explorer based in Canonsburg, Pennsylvania, reported Bloomberg, citing people familiar with the matter.

The sale value of the natural gas explorer operating in the Appalachian region could be approximately $2bn.

The alternative asset manager is working with financial advisers to find a potential buyer for the natural gas company.

No final decision has been made, and Blackstone may choose to retain ownership. Currently, the discussions are confidential, reported the sources.

A representative for Blackstone declined to comment on the matter, and Olympus Energy has not yet responded to requests for comment, reported the publication.

Established in 2012 as Huntley & Huntley Energy Exploration, Olympus Energy, which was rebranded in 2019, operates on approximately 100,000 net acres in south-western Pennsylvania, US.

In early 2024, Chesapeake Energy agreed to merge with Southwestern Energy in a $7.4bn deal, forming what is said to be the largest natural gas producer in the US. This merged entity is now known as Expand Energy.

Blackstone company oversees more than $1trn in assets.

In November 2024, Blackstone Credit & Insurance (BXCI), a unit of Blackstone, formed a midstream joint venture (JV) with EQT, a US-based natural gas producer.

The JV encompasses EQT’s key infrastructure assets including the Mountain Valley pipeline (MVP), transmission and storage facilities, and the Hammerhead pipeline.

As per the terms of the deal, BXCI is required to invest $3.5bn in cash for a non-controlling equity stake, valuing the JV at $8.8bn.

"Blackstone weighs sale of natural gas explorer Olympus Energy" was originally created and published by Offshore Technology, a GlobalData owned brand.

The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.