Ineos Energy leans into oil with US shale deal
Company ready to develop Eagle Ford shale after $1.4bn deal with Chesapeake Energy, chairman Brian Gilvary tells Petroleum Economist in an interview
The entry of the UK’s Ineos Energy into the US shale sector through its recent deal with US firm Chesapeake Energy marks the “next big phase” of the company’s growth as it rebalances its portfolio towards oil rather than gas, chairman Brian Gilvary tells Petroleum Economist. The energy arm of UK-based chemical group Ineos is buying a portion of Chesapeake’s assets in the Eagle Ford shale in south Texas for $1.4bn in a deal that will give it 2,300 wells, producing 36,000bl/d oe. The deal is expected to complete in the second quarter. “The Eagle Ford shale was perfect. It was a mostly oil portfolio, which attracted us, and it will create the next phase for us in the US,” Gilvary says. “It is t
Also in this section
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy
15 April 2024
Though hampered by methane concerns, US LNG has a crucial role to play for European and Asian energy security, US economic needs and the energy transition drive