Jetta, Blackstone eye Delaware basin acquisitions with pure-play partnership

FORT WORTH, Texas, and NEW YORK -- Blackstone has announced the formation of Jetta Permian, a partnership between an affiliate of Jetta Operating Company and funds managed by Blackstone Energy Partners. Jetta Permian will target assets and leasehold in the Delaware basin with $1.0 billion of capital committed from Blackstone and Jetta’s partners.

Jetta’s strategy includes pursuing asset and leasehold acquisition opportunities, farm-in transactions and partnerships or joint ventures with existing operators and landowners.

Greg Bird, CEO and president of the general partner of Jetta Permian and the president and owner of Jetta, said, “With a $1.0-billion equity commitment and with the collective resources of the Blackstone team to support the partnership, coupled with the Jetta team’s operating capabilities and track record, this will allow for and enable the strategic and successful acquisition and development of high quality oil and gas assets in the Delaware basin.”