Ineos Energy chairman Brian Gilvary
Ineos Energy leans into oil with US shale deal
Company ready to develop Eagle Ford shale after $1.4bn deal with Chesapeake Energy, chairman Brian Gilvary tells Hydrogen Economist in an interview
The entry of the UK’s Ineos Energy into the US shale sector through its recent deal with US firm Chesapeake Energy marks the “next big phase” of the company’s growth as it rebalances its portfolio towards oil rather than gas, chairman Brian Gilvary tells Hydrogen Economist. The energy arm of UK-based chemical group Ineos is buying a portion of Chesapeake’s assets in the Eagle Ford shale in south Texas for $1.4bn in a deal that will give it 2,300 wells, producing 36,000bl/d oe. The deal is expected to complete in the second quarter. “The Eagle Ford shale was perfect. It was a mostly oil portfolio, which attracted us, and it will create the next phase for us in the US,” Gilvary says. “It is th
Also in this section
8 December 2023
The US oil major is leveraging its skillset to develop a low-carbon portfolio spanning CCS and blue hydrogen to lithium for EV batteries
7 December 2023
Significant potential for green hydrogen across the Middle East
6 December 2023
COP28 declaration aims to unleash global trade through alignment of national certification systems
5 December 2023
Supply chains face short-term challenges but not fundamental barriers as clean energy technologies scale
