Abu Dhabi National Oil Co. (ADNOC) is reportedly evaluating an acquisition of Aethon Energy Management’s Haynesville assets, according to a report from Bloomberg. (Source: Shutterstock)
Abu Dhabi National Oil Co. (ADNOC) is reportedly evaluating an acquisition of Aethon Energy Management’s Haynesville assets.
ADNOC has hired advisers to study a bid of Aethon’s natural gas assets in East Texas and Louisiana, which could potentially be worth around $9 billion, Bloomberg reported April 11.
Talks are in early stages and no agreements have been finalized, sources said.
Hart Energy has reached out to ADNOC for more information. Aethon declined to comment.
Privately held Aethon Energy is the second-largest Haynesville gas producer, behind Expand Energy. Expand was formed through the merger of publics Chesapeake Energy and Southwestern Energy last year.
Aethon produces around 3 Bcf/d (gross) from its Haynesville assets.
The United Arab Emirates (UAE) has committed up to $1.4 trillion in U.S. investment over the next decade.
This week, Mubadala Energy, a subsidiary of Abu Dhabi’s sovereign wealth fund Mubadala Investment Co., purchased a non-controlling stake in natural gas assets from Kimmeridge Energy Management.
Mubadala’s acquisitions includes stakes in Kimmeridge Texas Gas (KTG) and Commonwealth LNG.
Kimmeridge Partner Ben Dell told Hart Energy this week that foreign interest is returning to U.S. shale gas. International investors poured billions of dollars into U.S. shale over the past decade-plus, with varying results.
That situation has changed today with the expansion of U.S. LNG exports, he said.
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