Centalion acquires Haynesville natural gas assets from Silver Hill
USO•Centalion Group said it acquired upstream and midstream natural gas assets in Texas and Louisiana's Haynesville region from Silver Hill Energy Partners. The combined Haynesville platform has an enterprise value of about $2 billion, produces about 300 million cubic feet of gas per day and includes about 72,000 net acres.
1. Assets and valuation
Centalion Group said it acquired upstream and midstream natural gas assets in Texas and Louisiana's Haynesville region from private shale company Silver Hill Energy Partners. A Centalion spokesperson said its Haynesville platform, comprising the Post Oak and Silver Hill assets, has an enterprise value of about $2 billion.
2. Production and acreage
The assets produce about 300 million cubic feet of natural gas per day and include about 72,000 net acres in the Haynesville and Bossier development areas. A spokesperson said the basin's position between domestic and export markets gives the company an opportunity to capture and create value from that optionality.
3. Company changes
The commodities trader, formerly known as Gunvor, rebranded as Centalion Group last week and said it planned to move its corporate headquarters from Cyprus to Singapore.
