GE Energy Financial Services and TriTex Energy LLC recently partnered to provide up to $45 million to acquire and develop oil and gas reserves in New Mexico. This is GE’s fifth investment in the oil and gas industry, bringing total investments to $360 million for the year.
The partnership breaks down like this. GE is investing $30 million as the 98 percent limited partner, while TriTex will invest the balance as the 2 percent general partner and operator of the venture. Under the partnership, both parties plan to invest an additional $14 million (combined) to develop and produce reserves over the next two years.
Read our press release.
* Associated Press: GE unit, Texas firm team on oil, gas reserves
* New Mexico Business Weekly: GE, TriTex invest $45M in NM
