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GE Energy, independents to acquire reserves

By OGJ editors
HOUSTON, Feb. 16
-- GE Energy Financial Services formed partnerships with two independents to acquire North Dakota and West Texas oil and gas reserves.

Two separate transactions came to a total of nearly $200 million, GE Energy said.

GE Energy formed a partnership with Sequel Energy LLC to acquire oil and gas reserves in the Williston basin of North Dakota from St. Mary Land & Exploration Co. for $137 million. Both St. Mary and Sequel are based in Denver.

Sequel will serve as general partner and will operate the partnership. GE Energy will serve as the limited partner.

Separately, GE Energy formed a partnership with Marlin Energy LLC. The partnership, Marlin Permian LP, acquired gas reserves in West Texas from an undisclosed seller for $65 million.

GE Energy will serve as limited partner. Marlin Energy of Lafayette, La., will be the general partner of Marlin Permian and will operate the assets.


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