Abu Dhabi's ADNOC mulls bid for Aethon's U.S. natural gas assets
Abu Dhabi state oil company ADNOC is in the early stages of considering a bid for investment firm Aethon Energy Management's U.S. natural gas assets. ADNOC has done a string of acquisitions in gas and chemicals, which along with LNG and renewables it considers as pillars for its future growth.
Last year, the energy giant bought a stake in NextDecade's LNG export project in Texas along with a 20-year supply deal.
Deliberations regarding the U.S. energy-focused investment firm's assets also involve other parties, the source added.
In November, it was reported that Aethon was exploring options for its natural gas production and midstream assets that included a sale or an initial public offering at a valuation of about $10 B.
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.
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