Latest news with #Aethon
The Star
18-06-2025
- Business
- The Star
Mitsubishi in advanced talks on US$8bil Aethon deal
A deal would likely be structured as a purchase of Aethon's portfolio. — Bloomberg TOKYO: Mitsubishi Corp is in advanced talks to buy the assets of Aethon Energy Management for close to US$8bil, according to sources, in what would be the Japanese conglomerate's biggest ever acquisition. Mitsubishi could announce a deal with the US energy-focused investment firm in the next couple of months, according to the sources. Abu Dhabi National Oil Co had also been considering a potential transaction involving Aethon, Bloomberg News reported in April. A deal would likely be structured as a purchase of Aethon's portfolio, which includes natural gas production operations and midstream assets. Dallas-based Aethon is among the most active drillers in the Haynesville shale basin that straddles East Texas and northern Louisiana. Aethon is close to several liquefied natural gas (LNG) export terminals along the Gulf Coast. Mitsubishi, one of Japan's major trading companies, is a key supplier of LNG and has a stake in a US export facility in Louisiana. Japan's government sees the artificial intelligence (AI) boom potentially lifting power demand over the next decade, and has urged the nation's private firms to invest in gas. The talks mean that Mitsubishi is looking to double down on one of its most profitable business segments: natural gas. Japan's trading houses, which include Warren Buffett's Berkshire Hathaway Inc as an investor, have outperformed the market over the last few years due in part to strong profits from overseas gas and LNG projects. 'Given the shortage of power due to AI demand, everything related to energy is generally positive,' said Shuji Hosoi, senior strategist at Daiwa Securities Co. That said, there are worries about whether it may be overpaying for the purchase, like the steep premium Nippon Steel Corp hads agreed to pay for US Steel Corp. — Bloomberg
Business Times
16-06-2025
- Business
- Business Times
Mitsubishi said in advanced talks on US$8 billion Aethon deal
[NEW YORK] Mitsubishi is in advanced talks to buy the assets of Aethon Energy Management for close to US$8 billion, sources familiar with the matter said, in what would be the Japanese conglomerate's biggest ever acquisition. Tokyo-based Mitsubishi could announce a deal with the US energy-focused investment firm in the next couple of months, according to the sources. Abu Dhabi National Oil Company (Adnoc) had also been considering a potential transaction involving Aethon, Bloomberg News reported in April. A deal would likely be structured as a purchase of Aethon's portfolio, which includes natural gas production operations and midstream assets, some of the sources said. While a deal is close, talks could still be delayed or falter, the sources said, asking not to be identified discussing confidential information. It's also possible another bidder could emerge for Aethon, the sources said. Representatives for Mitsubishi and Aethon declined to comment. A spokesperson for Adnoc did not respond to requests for comment. Dallas-based Aethon is among the most active drillers in the Haynesville shale basin that straddles East Texas and northern Louisiana. Aethon is close to several liquefied natural gas (LNG) export terminals along the Gulf Coast. Mitsubishi, one of Japan's major trading companies, is a key supplier of LNG and has a stake in a US export facility in Louisiana. Japan's government sees the artificial intelligence boom potentially lifting power demand over the next decade, and has urged the nation's private firms to invest in gas. An acquisition of Aethon would be the largest on record by Mitsubishi, Bloomberg-compiled data show, topping its purchase of a stake in a unit of Anglo American for almost US$5.4 billion in 2011. BLOOMBERG
Yahoo
16-06-2025
- Business
- Yahoo
Mitsubishi Corp in talks for $8 billion US shale acquisition, source says
(Reuters) -Mitsubishi Corp (8058.T) is in talks to acquire the U.S. shale production and pipeline assets of Aethon Energy Management for roughly $8 billion, a person familiar with the matter said on Monday. The deal, should it be struck, would give the Japanese conglomerate a substantial natural gas operation adjacent to the U.S. Gulf coast and the energy export facilities being developed along it. Talks between Mitsubishi and Aethon are ongoing, said the source, who cautioned that there was no guarantee a transaction would be agreed and spoke on condition of anonymity to discuss confidential deliberations. While the assets are owned and operated by U.S. energy-focused investment firm Aethon, fellow money managers RedBird Capital Partners and Canada's Ontario Teachers' Pension Plan also hold sizable stakes. Aethon and RedBird declined comment. OTPP did not immediately respond to a comment request. Mitsubishi could not be reached outside of normal business hours in Japan. 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. Reuters reported in November that Aethon was exploring options for its operations, which also include more than 1,400 miles (2,250 km) of pipelines across the Haynesville basin and Wyoming, where Aethon also has some production assets. Bloomberg News earlier on Monday reported the talks between Mitsubishi and Aethon, citing people familiar with the matter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
19-05-2025
- Business
- Business Wire
Black Stone Minerals, L.P. Announces New Development Agreement in the Shelby Trough with Revenant Energy and Amended Development Agreements with Aethon Energy
HOUSTON--(BUSINESS WIRE)--Black Stone Minerals, L.P. (NYSE: BSM) ('Black Stone,' 'BSM,' or 'the Partnership') today announces that it has entered into a development agreement with Revenant Energy ('Revenant') with respect to the Partnership's expanded Shelby Trough Haynesville and Bossier acreage, primarily located in Angelina, Nacogdoches, and San Augustine counties in Texas. Separately, the Partnership has agreed to amend the existing development agreements with Aethon Energy ('Aethon') in Angelina and San Augustine counties. As part of this amendment, Aethon will return to the Partnership highly prospective mineral acreage to support and further accelerate another potential development program in the region. Management Commentary Thomas L. Carter, Jr., Black Stone Minerals' Chairman, Chief Executive Officer, and President, commented, 'We are excited to partner with the Revenant Energy team, whose proven track record of development in the Shelby Trough establishes them as a solid operator for this asset. Through robust subsurface evaluation, we identified substantial areas of prospective minerals outside of the existing Shelby Trough development agreements. This new agreement covers approximately 270,000 gross and 95,000 net undeveloped acres with significant resource potential that we expect to benefit both companies for decades. Additionally, the annual minimum well commitment at full ramp will ultimately about double the net well development of Black Stone's portfolio in the Shelby Trough. The acreage within this agreement comes from both legacy acquisitions and the recent targeted mineral acquisitions, which continue to enhance our existing Shelby Trough footprint. We have also finalized an amendment with Aethon that will release over 50,000 gross acres back to BSM in an area directly offsetting existing development, in exchange for a well commitment reduction. This released acreage provides a strong foundation that we plan to place under another new development agreement, further enhancing our outlook on total development activity in the Shelby Trough. With the combination of these executed agreements, proximity to the Gulf Coast market, and long-term natural gas pricing, we are confident in the growth opportunities the asset provides to our unitholders.' Revenant Development Agreement The Revenant Development Agreement covers approximately 270,000 gross acres across San Augustine, Nacogdoches, Angelina, Houston, and Trinity counties. BSM currently controls approximately 95,000 undeveloped net acres, with line of sight to additional acquisitions, all within this contractual area. The annual well commitments escalate over five years from a minimum of 6 wells per year starting in 2026 to a minimum of 25 wells per year and require test wells in certain areas in order to continue operating across the full footprint. Additionally, BSM expects to bring a non-operated working interest partner into the development. Aethon Amended Development Agreements The Partnership has entered into an amendment to the joint exploration agreements ('JEAs') with Aethon in Angelina and San Augustine counties which reduces the contract area to approximately 210,000 gross acres. Under the terms of the amendment, Aethon will release over 50,000 gross acres from the contract area, in exchange for reducing the annual well commitment to a total of 16 wells across both JEAs. As previously disclosed, the majority of farmout agreements covering non-operated working interests under these JEAs have terminated, and Aethon is absorbing that working interest as part of the amendment. About Black Stone Minerals, L.P. Black Stone Minerals is one of the largest owners of oil and natural gas mineral interests in the United States. The Partnership owns mineral interests and royalty interests in 41 states in the continental United States. Black Stone believes its large, diversified asset base and long-lived, non-cost-bearing mineral and royalty interests provide for stable to growing production and reserves over time, allowing the majority of generated cash flow to be distributed to unitholders. Forward-Looking Statements This news release includes forward-looking statements. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that the Partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as 'will,' 'may,' 'should,' 'expect,' 'anticipate,' 'plan,' 'project,' 'intend,' 'estimate,' 'believe,' 'target,' 'continue,' 'potential,' the negative of such terms, or other comparable terminology often identify forward-looking statements. Except as required by law, Black Stone Minerals undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this news release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. All forward-looking statements are qualified in their entirety by these cautionary statements. These forward-looking statements involve risks and uncertainties, many of which are beyond the control of Black Stone Minerals, which may cause the Partnership's actual results to differ materially from those implied or expressed by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, those summarized below: the Partnership's ability to execute its business strategies; the volatility of realized oil and natural gas prices; the level of production on the Partnership's properties; overall supply and demand for oil and natural gas, as well as regional supply and demand factors, delays, or interruptions of production; domestic and foreign trade policies, including tariffs and other controls on imports or exports of goods, including energy products; conservation measures and general concern about the environmental impact of the production and use of fossil fuels; the Partnership's ability to replace its oil and natural gas reserves; general economic, business, or industry conditions including slowdowns, domestically and internationally, and volatility in the securities, capital or credit markets; cybersecurity incidents, including data security breaches or computer viruses; competition in the oil and natural gas industry; the availability or cost of rigs, equipment, raw materials, supplies, oilfield services or personnel; and the level of drilling activity by the Partnership's operators, particularly in areas such as the Shelby Trough where the Partnership has concentrated acreage positions.
Yahoo
19-05-2025
- Business
- Yahoo
Black Stone Minerals, L.P. Announces New Development Agreement in the Shelby Trough with Revenant Energy and Amended Development Agreements with Aethon Energy
HOUSTON, May 19, 2025--(BUSINESS WIRE)--Black Stone Minerals, L.P. (NYSE: BSM) ("Black Stone," "BSM," or "the Partnership") today announces that it has entered into a development agreement with Revenant Energy ("Revenant") with respect to the Partnership's expanded Shelby Trough Haynesville and Bossier acreage, primarily located in Angelina, Nacogdoches, and San Augustine counties in Texas. Separately, the Partnership has agreed to amend the existing development agreements with Aethon Energy ("Aethon") in Angelina and San Augustine counties. As part of this amendment, Aethon will return to the Partnership highly prospective mineral acreage to support and further accelerate another potential development program in the region. Management Commentary Thomas L. Carter, Jr., Black Stone Minerals' Chairman, Chief Executive Officer, and President, commented, "We are excited to partner with the Revenant Energy team, whose proven track record of development in the Shelby Trough establishes them as a solid operator for this asset. Through robust subsurface evaluation, we identified substantial areas of prospective minerals outside of the existing Shelby Trough development agreements. This new agreement covers approximately 270,000 gross and 95,000 net undeveloped acres with significant resource potential that we expect to benefit both companies for decades. Additionally, the annual minimum well commitment at full ramp will ultimately about double the net well development of Black Stone's portfolio in the Shelby Trough. The acreage within this agreement comes from both legacy acquisitions and the recent targeted mineral acquisitions, which continue to enhance our existing Shelby Trough footprint. We have also finalized an amendment with Aethon that will release over 50,000 gross acres back to BSM in an area directly offsetting existing development, in exchange for a well commitment reduction. This released acreage provides a strong foundation that we plan to place under another new development agreement, further enhancing our outlook on total development activity in the Shelby Trough. With the combination of these executed agreements, proximity to the Gulf Coast market, and long-term natural gas pricing, we are confident in the growth opportunities the asset provides to our unitholders." Revenant Development Agreement The Revenant Development Agreement covers approximately 270,000 gross acres across San Augustine, Nacogdoches, Angelina, Houston, and Trinity counties. BSM currently controls approximately 95,000 undeveloped net acres, with line of sight to additional acquisitions, all within this contractual area. The annual well commitments escalate over five years from a minimum of 6 wells per year starting in 2026 to a minimum of 25 wells per year and require test wells in certain areas in order to continue operating across the full footprint. Additionally, BSM expects to bring a non-operated working interest partner into the development. Aethon Amended Development Agreements The Partnership has entered into an amendment to the joint exploration agreements ("JEAs") with Aethon in Angelina and San Augustine counties which reduces the contract area to approximately 210,000 gross acres. Under the terms of the amendment, Aethon will release over 50,000 gross acres from the contract area, in exchange for reducing the annual well commitment to a total of 16 wells across both JEAs. As previously disclosed, the majority of farmout agreements covering non-operated working interests under these JEAs have terminated, and Aethon is absorbing that working interest as part of the amendment. About Black Stone Minerals, L.P. Black Stone Minerals is one of the largest owners of oil and natural gas mineral interests in the United States. The Partnership owns mineral interests and royalty interests in 41 states in the continental United States. Black Stone believes its large, diversified asset base and long-lived, non-cost-bearing mineral and royalty interests provide for stable to growing production and reserves over time, allowing the majority of generated cash flow to be distributed to unitholders. Forward-Looking Statements This news release includes forward-looking statements. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that the Partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. Terminology such as "will," "may," "should," "expect," "anticipate," "plan," "project," "intend," "estimate," "believe," "target," "continue," "potential," the negative of such terms, or other comparable terminology often identify forward-looking statements. Except as required by law, Black Stone Minerals undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this news release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. All forward-looking statements are qualified in their entirety by these cautionary statements. These forward-looking statements involve risks and uncertainties, many of which are beyond the control of Black Stone Minerals, which may cause the Partnership's actual results to differ materially from those implied or expressed by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, those summarized below: the Partnership's ability to execute its business strategies; the volatility of realized oil and natural gas prices; the level of production on the Partnership's properties; overall supply and demand for oil and natural gas, as well as regional supply and demand factors, delays, or interruptions of production; domestic and foreign trade policies, including tariffs and other controls on imports or exports of goods, including energy products; conservation measures and general concern about the environmental impact of the production and use of fossil fuels; the Partnership's ability to replace its oil and natural gas reserves; general economic, business, or industry conditions including slowdowns, domestically and internationally, and volatility in the securities, capital or credit markets; cybersecurity incidents, including data security breaches or computer viruses; competition in the oil and natural gas industry; the availability or cost of rigs, equipment, raw materials, supplies, oilfield services or personnel; and the level of drilling activity by the Partnership's operators, particularly in areas such as the Shelby Trough where the Partnership has concentrated acreage positions. View source version on Contacts Black Stone Minerals, L.P. Contact Taylor DeWalchSenior Vice President, Chief Financial Officer, and TreasurerTelephone: (713) 445-3200investorrelations@
