Southwestern Energy Company has entered an agreement to sell its Fayetteville shale exploration and production (E&P) assets and associated midstream properties in Arkansas, US, to Flywheel Energy for $1.865bn.
The assets include approximately 915,000 net acres, 4,033 producing wells and 3.7 trillion cubic feet (tcf) of proven reserves.
Flywheel Energy will also acquire $438m of future contractual liabilities, provided certain obligations are retained by Southwestern Energy.
In addition, Flywheel Energy will take over 2019 production of 225bcf-230bcf and associated midstream infrastructure.
Flywheel Energy is a private exploration and production company, while Southwestern Energy Company is an independent energy company. Both the companies are based in the US.
The funds raised from the divestment will be used by Southwestern Energy to reinvest into the company’s assets located in West Virginia.
Helios Investment Partners has signed a deal with China Harbour Engineering Company to develop a $350m liquefied natural gas (LNG) terminal at the Tema port in Ghana.
China Harbour Engineering Company will construct the marine facilities for the terminal, while Jiangnan Shipyard of China will build the floating regasification facility, as per the agreement.