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Market Chatter: Vitol Nears $2.3 Billion Sale of VTX Energy

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Vitol could reach an agreement as soon as next week to sell VTX Energy to private equity firms Carnelian Energy Capital and EnCap Investments, Bloomberg reported Thursday, citing people familiar with the matter.

The proposed transaction would value the shale business at about $2.3 billion and reduce Vitol's exposure to US upstream oil and gas production, the people said.

Founded by Vitol in 2022 to build a portfolio of producing assets, VTX now produces nearly 46,000 barrels of oil equivalent per day in Texas' Delaware Basin, the report said.

Vitol, Carnelian Energy Capital, and EnCap Investments did not immediately reply to' request for comment.

(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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