Commodities trader Gunvor is engaged in preliminary negotiations to purchase natural gas-producing assets from Silver Hill Energy Partners for a price estimated between $1.2 billion and $1.5 billion. The assets are located within the Haynesville shale basin, which spans parts of East Texas and Louisiana. According to four sources familiar with the matter, the talks are in an early stage and a final agreement is not certain.
The potential acquisition follows a leadership change at Gunvor last year, in which Gary Pedersen became CEO after a management buyout of co-founder Torbjorn Tornqvist. If the transaction proceeds, the assets would be operated by Western Natural, an Oklahoma City-based producer that Gunvor financially backed earlier this year. Gunvor declined to comment on the negotiations, while Silver Hill and Western Natural did not immediately provide statements.
Silver Hill currently manages approximately 58,000 net acres in the region. Data from energy consultancy Rystad indicates these holdings produce an estimated 370 million cubic feet equivalent of natural gas per day. This move would represent Gunvor's second deal in the Haynesville basin this year, following its capital support for Western Natural’s $300 million purchase of other gas-producing assets reported in June.
Individual landholders and local service providers in the Haynesville region would see Western Natural take over operations for roughly 58,000 acres, potentially altering management practices or local contracts. The shift toward integrated production is driven by a projected increase in U.S. natural gas demand, fueled by energy needs for artificial intelligence data centers and new liquefied natural gas (LNG) export terminals scheduled to open along the Gulf Coast. Global market dynamics are also a factor, as international buyers seek alternatives to Middle Eastern gas supplies due to recent regional conflicts impacting the Strait of Hormuz.
The deal establishes a precedent for global trading houses becoming direct owners of U.S. energy infrastructure to ensure supply for long-term export contracts, such as Gunvor's recent agreement with Delfin Midstream. While the exact date for a final decision has not been reported, the current talks are described as "early stage." If a deal is reached, the transition of operations to Western Natural would likely follow standard regulatory and closing procedures for multi-billion dollar energy acquisitions. Consumers and industry observers will monitor whether this acquisition leads to increased export volumes or shifts in domestic pricing as production is tied more closely to global marketing operations.