U.S. investment firm Blackstone Group said it formed a partnership to help provide financial solutions to the offshore oil and natural gas services sector. Blackstone formed Clarion Offshore Partners to provide support for offshore drilling companies facing pressure from the market downturn. The entity is led by former top executives at offshore services provider Pride International, which was acquired by a rival in 2011. Louis Raspino, former CEO at Pride and now chairman of Clarion, said it could partner with industry leaders struggling to work through enduring weakness in the oil economy. “This is an opportune time in the industry for a well-capitalized and experienced team to provide creative financing and operational solutions,” he said in a statement. “Balance sheets […]