Holland & Knight Represents INEOS Energy in $1.4 Billion Acquisition of U.S. Onshore Oil and Gas Assets
DALLAS (February 24, 2023) – Holland & Knight advised INEOS Energy in the company's entrance into the United States onshore oil and gas market with the acquisition of a portion of Chesapeake Energy's oil and gas assets in the Eagle Ford shale in South Texas for $1.4 billion. The acquisition was announced Feb. 21, 2023.
Through this acquisition, INEOS Energy is set to acquire approximately 2,300 wells producing net 36,000 BOED (barrels of oil equivalent per day) in the Eagle Ford shale. When completed, INEOS will hold production and exploration leases across 172,000 acres in South Texas.
INEOS Energy is the energy division of INEOS, a multinational chemical company headquartered in London that operates in a variety of industries, including petrochemicals, specialty chemicals and oil and gas. INEOS Energy was established in 2020 to oversee the company's growing portfolio of energy-related businesses, which includes exploration and production as well as trading of oil and gas.
Chesapeake Energy Corporation, headquartered in Oklahoma City, is an American exploration and production company that is committed to safely answering the call for affordable, reliable, lower carbon energy.
Holland & Knight's representation of INEOS was led by Partner Debra Villarreal. She was assisted by Partners Brooke Sizer, John Dierking, Tony Campiti, Neely Munnerlyn, Ashley Phillips, Brandon Bloom and Antonia Tzinova and Associates Aaron Powell, Braedon Morrow, Anna Boyer, Jessica Kirk and Leslie Reynolds.
More information on the transaction can be found here.