Shale Consolidation: Southwestern Energy Acquiring Haynesville Producer

Journal of Petroleum Technology 

US tight-gas producer Southwestern Energy is acquiring smaller rival Indigo Natural Resources in a deal valued at about $2.7 billion. Houston-area based Southwestern said on Wednesday that the acquisition will add to its portfolio nearly 149,000 acres in the gas-rich Haynesville and Bossier shale formations in northern Louisiana. Indigo operates 330 producing wells and holds more than 1,000 future drilling locations, according to corporate reports. The properties are expected to average 1.1 Bcf/D for the year and proven reserves in 2020 were estimated to be 3.1 Tcf. The area serves as the major supply hub for liquified natural gas (LNG) plants and industrial markets along the US Gulf Coast.

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