Oil Majors Bid for U.S. Shenandoah Field Amid Supply
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- TotalEnergies and Shell are reportedly interested in acquiring a majority stake in the Shenandoah oil and gas field.
- Beacon Offshore Energy and HEQ Deepwater are selling a 51% stake in the Shenandoah field.
- BP, Repsol, and Chevron are also cited as potential buyers for the U.S. offshore asset, per Reuters.
- OilPrice.com highlights an accelerating oil rally, driven by traders anticipating real supply disruptions, making new oil assets highly desirable.
Why it matters: Oil majors are aggressively acquiring new U.S. offshore oil and gas assets as crude prices surge due to supply concerns.
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