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Market Chatter: Gunvor Funds Western Natural Resources in US Gas Asset Acquisition

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Commodities trader Gunvor has provided capital to oil and gas producer Western Natural Resources to support acquisition of natural gas-producing assets in the US, Reuters reported Wednesday, citing a company spokesperson.

Gunvor sees the US as a "terrific" place to invest, and its recent move will help boost domestic energy supply, the spokesperson told Reuters. Gas demand for power generation is expected to surge with industrial electrification and artificial intelligence.

Other sources cited by the news agency said Gunvor has backed Western's $300 million acquisition of natural gas-producing assets in the Haynesville shale basin of Texas and Louisiana. The assets were acquired from Post Oak Energy Capital's portfolio companies, Nadel and Gussman NV and Quantent Energy Partners.

Gunvor will reportedly continue supporting future acquisitions by Western to build a portfolio of US shale gas producing assets, according to the sources. Western is actively discussing deals in top US shale basins, as several companies seek to offload excess acreage and long-held investments.

Gunvor also intends to invest further in the US power and gas sectors, either directly or with partners, Reuters cited the company spokesperson as saying.

has reached out to Gunvor to seek further information about its investments in Western and future deals.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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