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INEOS completes major acquisition of US onshore oil and gas assets

Published by , Deputy Editor
Oilfield Technology,

INEOS Energy has completed the acquisition of a portion of Chesapeake Energy’s oil and gas assets in the Eagle Ford shale, south Texas for US$1.4 billion.

The deal marks INEOS Energy’s entry as operator into the US onshore oil and gas market, as it acquires 2300 wells, producing net 36 000 boe/d.

The acquisition, which includes production and exploration leases across 172 000 net acres, has an effective date of October 2022.

The addition of Chesapeake's assets and operations in south Texas is part of INEOS Energy’s strategy to build a global integrated portfolio, fit for the energy transition, offering high-quality, energy solutions to its customers. Around 100 employees will now transfer to INEOS.

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