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January 6, 2022

Aethon Energy looks to sell $6bn worth of acreage in North Louisiana

Bankers appointed by the investment firm have already contacted potential buyers for the divestment.

US-based oil and gas-focused investment firm Aethon Energy Management is reportedly considering divesting its acreage in North Louisiana, US.

The assets considered for sale could be valued at approximately $6bn, including debt, reported Reuters, citing people familiar with the matter.

As part of the plan, bankers appointed by the investment firm have contacted potential buyers in the final weeks of 2021 to determine initial interest in Aethon’s Haynesville assets in North Louisiana.

A formal sale process may begin later this year, sources told the news agency.

The sale, however, excludes Aethon’s assets in the East Texas portion of the Haynesville shale formation.

The sources also warned that there is no guarantee that Aethon will complete the divestment.

Last year, Aethon Energy collaborated with Cheniere Energy to implement the quantification, monitoring, reporting, and verification (QMRV) of greenhouse gas (GHG) emissions performance.

The collaboration forms part of Aethon’s wider carbon emissions reduction strategy by monitoring a sample of its production sites in Haynesville. This helps with testing the feasibility and scale for establishing low upstream emissions (LUE) standards.

Established in 1990, Aethon Energy Management is focused on acquiring and developing energy assets across a number of US shale plays.

It makes direct investments in onshore oil and gas properties in the US.

In 2021, several privately-owned oil and gas producers put up their Haynesville gas assets following a rebound in gas prices, which reached a12-year high in October.

In November last year, Southwestern Energy signed a $1.85bn deal to acquire US-based GEP Haynesville. The acquisition closed on 31 December 2021.

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