Blackstone Said to Weigh $5 Billion-Plus Sale of Beacon Offshore

Blackstone Inc. is in the early stages of weighing a sale of Beacon Offshore Energy, a Gulf of Mexico driller it’s owned for about a decade that could fetch more than $5 billion, according to people familiar with the matter.

The alternative asset manager is talking to investment banks about bringing the Houston-based company to market as soon as the first quarter, said the people, who asked to not be identified because the discussions are private.

Beacon is expected to attract interest from large producers with operations in the Gulf of Mexico, the people said. Major operators there include Chevron ...