INEOS Energy announced the acquisition of the Gulf of Mexico business held by CNOOC Energy Holdings U.S.A. Inc., a US subsidiary of CNOOC International Ltd., on Dec. 14.
The stock purchase agreement covers CNOOC’s upstream oil and gas interests in the US Gulf of Mexico, mainly non-operated shares of producing oil and gas projects such as the deepwater Appomattox and Stampede, plus other more mature fields.
INEOS Energy expects the transaction to lift its global production above 90,000 boe/d.
The company's previous deals in the US were a 1.4 MMt/year LNG acquisition with Sempra in December 2022 and the purchase of Chesapeake Energy’s oil and gas portfolio in South Texas in May 2023.
