Blackstone Group LP
Description
The asset manager will invest about $1.5 billion in the oil-rich Permian Basin in Texas and New Mexico by partnering with Jetta Operating Co. Inc. to create Jetta Permian, which will spend $1 billion on assets in the Delaware Basin, located in the larger Permian Basin. Blackstone also said it would spend $500 million on future acquisitions, to be made through its recently formed oil and gas company, Guidon Energy.