3 days ago
Wave of Foreign Investment in US Gas Could Top $10B
Asian, Middle Eastern and European buyers want a piece of U.S. shale gas, and they want it now.
Jeet Benipal, managing partner at Greenhill, a Mizuho affiliate, said there's at least five or six different shale gas deals on the market right now.
'If I were to add all of them together, we're probably looking at $10-plus billion,' Benipal said June 4 during Hart Energy's Energy Capital Conference.
Greenhill previously advised TG Natural Resources on its $2.7 billion acquisition of East Texas gas producer Rockcliff Energy II in 2023.
'There's a lot of interest from several different Asian strategics and trading houses in U.S. natural gas upstream assets,' Benipal said.
TG Natural Resources recently acquired a 70% interest in Chevron's Haynesville assets for $575 million.
Outside of Asia, Middle Eastern buyers are gaining steam in U.S. shale gas. In April, Kimmeridge sold a 24.1% stake in its upstream shale gas and LNG operation to Mubadala Energy, a subsidiary of Abu Dhabi's sovereign wealth fund Mubadala Investment Co.
U.K. petrochemical company INEOS has also invested in U.S. upstream, including offshore and in the Eagle Ford Shale, said Jack Collins, CEO of INEOS Energy, at the conference.
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