INEOS acquires CNOOC’s US Gulf production interests

INEOS Energy has completed its acquisition of the US Gulf offshore business of CNOOC Energy Holdings U.S.A., a subsidiary of CNOOC International.

The transaction will raise INEOS Energy’s global production above 90,000 boe/d.

It includes non-operated interest in two deepwater early production assets (Appomattox and Stampede).

David Bucknall, CEO of INEOS Energy, said, "The USA is a very attractive place for INEOS Energy to invest. This is our third deal in three years following the 1.4-mtpa LNG deal with Sempra and the acquisition of Chesapeake Energy’s oil and gas assets in South Texas.”