Centalion buys Haynesville natural gas assets from Silver Hill for about $2 billion
Commodities trader Centalion Group has acquired upstream and midstream natural gas assets in Texas and Louisiana's Haynesville region from Silver Hill Energy Partners for about $2 billion. The assets include 72,000 net acres and current net production of about 300 million cubic feet per day.
Oct 5 (Reuters) — Centalion Group said on Monday it acquired upstream and midstream natural gas assets in Texas and Louisiana's Haynesville region from Texas-based private shale company Silver Hill Energy Partners. The commodities trader, formerly known as Gunvor, rebranded as Centalion Group last week and said it planned to redomicile its corporate headquarters to Singapore from Cyprus. A Centalion spokesperson said the company's Haynesville platform, comprising the Post Oak and Silver Hill assets, has an enterprise value of about $2 billion. 5 billion, citing sources familiar with the matter.
The assets have current net natural gas production of about 300 million cubic feet per day (MMcfd) and the portfolio includes about 72,000 net acres in the Haynesville and Bossier development areas. "The rationale is for us to have a footprint in a basin that is the pivot point between domestic and export markets, allowing us to capture and create value from that optionality," the spokesperson added. com;)