INEOS Energy enters Eagle Ford shale gambit

USA

DALLAS, February 23, 2023 – INEOS Energy has entered America’s upstream Eagle Ford shale market through a USD 1.4-billion acquisition, the British energy company announced on Tuesday.

The deal with American E&P player Chesapeake Energy will see 696 square kilometres of concessions on the Eagle Ford shale formation passed to the buyer, primarily in the Dimmit, LaSalle and McMullen counties in the south of Texas.

The acquired blocks host around 2,300 wells, hold proven reserves of around 114 million boe and have a net production of 36,000 boepd.

The acquisition is expected to be complete in Q2 2023.

“The deal marks our entry into the US market and is another significant step in the INEOS Energy journey,” said Brian Gilvary, chairman of INEOS Energy.

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