Abu Dhabi state oil company ADNOC is in the early stages of considering a bid for investment firm Aethon Energy Management's U.S. natural gas assets, according to a person familiar with the matter.
ADNOC has done a string of acquisitions in gas and chemicals, which along with LNG and renewables it considers as pillars for its future growth.
Last year, the energy giant bought a stake in NextDecade (NASDAQ:NEXT)'s liquefied natural gas export project in Texas along with a 20-year supply deal.
Deliberations regarding the U.S. energy-focused investment firm's assets also involve other parties, the source added.
Reuters in November reported that Aethon was exploring options for its natural gas production and midstream assets that included a sale or an initial public offering at a valuation of about $10 billion.
The upstream assets of Aethon, which primarily focus on the Haynesville shale formation in Louisiana and East Texas, constitute one of the largest privately held U.S. gas producers.
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