GeoSouthern Energy Corporation is a

petroleum Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crud ...

and

natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...

exploration and production company headquartered in

The Woodlands, Texas The Woodlands is a special-purpose district and census-designated place (CDP) in the U.S. state of Texas in the Houston–The Woodlands–Sugar Land metropolitan statistical area. The Woodlands is primarily located in Montgomery County, with por ...

History

In 1981, the company was founded by Chairman George Bishop. Margaret "Meg" Molleston, joined the company in 2006 and leads the management of GeoSouthern's assets. In February 2014, the company sold 82,000 acres in the

Eagle Ford Ledbetter/Eagle Ford is a neighborhood in West Dallas, Texas, United States. Geography Eagle Ford is located at (32.7848517, -96.9008376). Adjacent areas Ledbetter Neighborhood Association * Ledbetter Gardens (east) * Westmoreland Heights (ea ...

shale area of Texas to

Devon Energy Devon Energy Corporation is an energy company engaged in hydrocarbon exploration in the United States. It is organized in Delaware and its corporate operative headquarters are in the 50-story Devon Energy Center in Oklahoma City, Oklahoma. Its ...

for $6 billion in cash. The assets were owned in a

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...

with a fund of

The Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate bu ...

. In August 2015, in partnership with

GSO Capital Partners Blackstone Credit, formerly known as GSO Capital Partners is an American hedge fund and the credit investment arm of The Blackstone Group. GSO is one of the largest credit-oriented alternative asset managers in the world and a major participant ...

, the company acquired its GEP Haynesville assets in the

Haynesville Shale The Haynesville Shale is an informal, popular name for a Jurassic Period rock formation that underlies large parts of southwestern Arkansas, northwest Louisiana, and East Texas. It lies at depths of 10,500 to 13,000 feet below the land’s surfac ...

, including 300 wells across 112,000 acres, from

Encana Ovintiv Inc. is a hydrocarbon exploration and production company organized in Delaware and headquartered in Denver, United States. It was founded and headquartered in Calgary, Alberta, under its previous name Encana. It was the largest energy co ...

for $850 million. In November 2021, the company sold its

GEP Haynesville asset, then producing 700 MMcf/d, to

Southwestern The points of the compass are a set of horizontal, radially arrayed compass directions (or azimuths) used in navigation and cartography. A compass rose is primarily composed of four cardinal directions—north, east, south, and west—each sepa ...

for $1.85 billion.

GEP Haynesville II

In 2020, Chesapeake Energy Corporation filed for bankruptcy, and as part of its restructuring plan, it decided to sell some of its assets to pay off its debts. One of the assets that Chesapeake sold was its South Mansfield Haynesville shale acreage, comprising 50,000 net mineral acres, which it sold to Williams Companies, Inc in December 2020. In August 2021, Williams announced an upstream JV with GeoSouthern (GEP Haynesville II) to develop the South Mansfield asset in order to enhance their strategy of connecting the best supplies of affordable, reliable and clean natural gas with growing customer demand. In May 2023, Alan Armstrong of Williams stated "During the last downturn, particularly in 2020, where we had customers that owed us for expansions and we brought in new operators to develop those...in the Haynesville, GeoSouthern (GEP Haynesville II) has been the operator there and they have done a fantastic job of growing the volumes in the Haynesville for us."

References

{{DEFAULTSORT:GeoSouthern Energy Oil companies of the United States Natural gas companies of the United States Companies based in The Woodlands, Texas Non-renewable resource companies established in 1981