Southwestern Extends Gas Buying Spree With $1.9 Billion Deal (2)

Southwestern Energy Co. agreed to buy GEP Haynesville LLC for about $1.85 billion in cash and stock to add natural gas production close to Louisiana export hubs.

GEP is a joint venture between billionaire George Bishop’s GeoSouthern Energy Corp. and the credit arm of Blackstone Group LP. The deal adds about 700 million cubic feet of daily gas production in the Haynesvillle shale play, making Southwestern the largest producer in the basin, the company said Thursday in a statement. Talks between Southwestern and GeoSouthern were first reported by Bloomberg.

The agreement brings the value of takeovers in the gas-rich ...