Gunvor, a Switzerland-based commodities trader, is in early stage talks to acquire natural gas-producing assets in Texas and Louisiana from US-based Silver Hill Energy Partners for $1.2bn (SFr960m)–1.5bn, reported Reuters.
The assets are situated in the Haynesville shale basin, four people familiar with the matter told the news agency
If completed, the transaction would further Gunvor’s strategy to build an integrated shale gas production and marketing presence in the US. The move would be Gunvor’s second deal in the Haynesville region this year, following its earlier support for Oklahoma City-based Western Natural’s approximately $300m acquisition of Haynesville gas assets. Two of the sources said that Western Natural would operate the assets should the deal proceed.
Discussions between Gunvor and Silver Hill remain in an early phase, and there is no certainty of a final agreement, according to those with knowledge of the negotiations. The sources requested anonymity, citing the confidential nature of the talks. The Haynesville basin has attracted increased investment interest due to its high output levels and close proximity to existing and planned liquefied natural gas (LNG) export terminals along the US Gulf Coast.