Chemical Giant Enters U.S. Shale With $1.4 Billion Acquisition ...Middle East

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Chemical Giant Enters U.S. Shale With $1.4 Billion Acquisition
source : OILPRICE ( Middle East ) () 19
One of the world’s largest chemical makers, UK-based INEOS, has entered U.S. oil and gas production after agreeing to buy Eagle Ford assets from Chesapeake Energy for $1.4 billion, thus gaining access to cheaper natural gas.     The deal marks INEOS Energy’s entry as an operator into the U.S. onshore oil and gas market, as it acquires 2,300 wells producing net 36,000 barrels of oil equivalent per day (boed). The acquisition, which includes production and exploration leases across 172,000 net acres, is expected to be completed…

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