In the first transaction, GE Energy Financial Services formed a partnership with Marlin Energy. The company’s new partner Marlin Permian acquired natural gas reserves in west Texas for $65m. GE Energy Financial Services will serve as limited partner and Marlin Energy will serve as both general partner of the partnership and operator of the assets.
In the second transaction, GE Energy Financial Services has formed a partnership with Sequel Energy to acquire oil and gas reserves in the Williston basin of North Dakota from Denver-based Saint Mary Land & Exploration for $137m. GE Energy Financial Services will serve as the limited partner, with Sequel serving as general partner and operator.
John Schaeffer, managing director and head of oil and gas unit at GE Energy Financial Services, said: “GE Energy Financial Services’ oil and gas partnership structure will help both Marlin and Sequel realize maximum potential from their respective acquisitions.”
