en.Wedoany.com Reported - Commodity trader Gunvor has expanded its natural gas production asset footprint in U.S. shale basins by supporting private oil and gas producer Western Natural Resources. Gunvor announced on Wednesday that it has provided financial backing to an energy industry executive team to help accumulate natural gas assets in top-tier shale basins. Gunvor confirmed through a spokesperson that it has supported Oklahoma City-based Western Natural Resources, which previously collaborated with asset management firm KKR on energy projects. Gunvor first announced in November 2024 that it was actively negotiating with newly established private companies to purchase U.S. natural gas assets and support these companies in making acquisitions for their own benefit. Gunvor's 2024 annual results already disclosed its entry into the U.S. upstream natural gas production sector.
Gunvor believes that the AI revolution and industrial electrification are driving an increasing number of data centers, with fossil fuel demand expected to grow exponentially. Meanwhile, the Iran war has prompted natural gas importers to reassess their supplier portfolios, boosting demand for U.S. natural gas. A Gunvor spokesperson stated that the U.S. is currently an excellent investment destination, and this deal builds on Gunvor's existing investments in the U.S. energy sector, contributing to domestic energy supply growth.
Four sources familiar with the matter revealed that Gunvor has begun investing in assets through the Western joint venture. Two sources said Gunvor provided $300 million to Western last month to acquire natural gas production assets in the Haynesville Shale Basin, located in Texas and Louisiana. These assets were purchased from Nadel and Gussman NV and Quantent Energy Partners, both portfolio companies of Post Oak Capital. Post Oak announced the sale on May 27, marking one of four deals the fund management firm has agreed to exit in the past month. The identities of the buyer and Gunvor's role were previously undisclosed. Post Oak declined to comment.
Four sources confirmed that Gunvor will continue to support Western in future acquisitions to build a U.S. natural gas asset portfolio. Western is "actively discussing" similar deals in the Haynesville and other top-tier U.S. shale basins linked to export facilities. Western aims to capitalize on a wave of asset sales from companies divesting surplus land and long-held investments. A Gunvor spokesperson said the company looks forward to further investments in the U.S. natural gas and power sectors, either directly or through partnerships.
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