Greenhill’s Jeet Benipal, right, estimates that foreign investment deals for U.S. shale gas could total as much as $10 billion. Benipal participated in a panel discussion at the Energy Capital Conference with Darren Barbee, Hart Energy’s editorial director (left); and Jack Collins of INEOS Energy. (Source: Hart Energy)
Asian, Middle Eastern and European buyers want a piece of U.S. shale gas, and they want it now.
Jeet Benipal, managing partner at Greenhill, a Mizuho affiliate, said there’s at least five or six different shale gas deals on the market right now.
“If I were to add all of them together, we’re probably looking at $10-plus billion,” Benipal said June 4 during Hart Energy’s Energy Capital Conference.
Greenhill previously advised TG Natural Resources on its $2.7 billion acquisition of East Texas gas producer Rockcliff Energy II in 2023.
“There’s a lot of interest from several different Asian strategics and trading houses in U.S. natural gas upstream assets,” Benipal said.
TG Natural Resources recently acquired a 70% interest in Chevron’s Haynesville assets for $575 million.
Outside of Asia, Middle Eastern buyers are gaining steam in U.S. shale gas. In April, Kimmeridge sold a 24.1% stake in its upstream shale gas and LNG operation to Mubadala Energy, a subsidiary of Abu Dhabi’s sovereign wealth fund Mubadala Investment Co.
U.K. petrochemical company INEOS has also invested in U.S. upstream, including offshore and in the Eagle Ford Shale, said Jack Collins, CEO of INEOS Energy, at the conference.
RELATED
Kimmeridge’s Ben Dell: International Investors Return to US Shale Gas
Recommended Reading
Energy Executives Plan EQV Group’s Second Blank-Check IPO
2025-06-13 - The $350 million of funds raised will go into escrow alongside the $350 million raised from EQV Group’s first SPAC IPO as the 10-month-old prospective M&A buyer has not yet done a deal.
Ex-Weatherford Chief Guns for 2nd Energy SPAC on Heels of 1st
2025-06-30 - Former Weatherford International CEO Bernard Duroc-Danner is planning Pyrophyte Acquisition Corp. II, a blank check company led and advised by a wide range of financial and energy executives including Riverstone Holdings’ co-founders.
IPAA Seeking New CEO as Eshelman to Take New Role
2025-06-12 - IPAA’s chairman Mike Hillebrand told members in an email that the next CEO would be “a visionary, dynamic leader who understands the unique challenges and opportunities facing our diverse membership.”
XCL Resources Team Launches X2, Targets Multibillion-Dollar M&A
2025-04-24 - X2 Resources, led by the team behind XCL Resources, is targeting $500 million to multibillion-dollar acquisitions across “premier” oil and gas basins with backing from EnCap and other investors.
Top US Private Producers See Opportunity in Market Volatility
2025-06-30 - Privately held oil and gas producers from Surge Energy, Northeast Natural Energy, Anschutz Exploration, Greylock Energy and Jonah Energy dish on their plans in the Delaware, Midland Appalachian basins, where they ready to pounce on M&A opportunities.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.