Heirs Oil & Gas purchase from Shell

Heirs Oil & Gas purchase from Shell

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By Cam Boulton
January 1, 2021

Heirs Holdings expanded its oil and gas portfolio in Nigeria by acquiring 45% of OML 17 from Shell, Total E&P, and ENI. Through the holding corporation, TNOG, Heirs will have sole operatorship of the asset. The acquisition was announced in January of 2021.

320,000 net acres

$533 million

1.2 BBOE TP Reserves

$20,000/Flowing BOE

Location

We have a very clear vision: creating Africa’s first integrated energy multinational, a global quality business, uniquely focused on Africa and Africa’s energy needs. The acquisition of such a high-quality asset, with significant potential for further growth, is a strong statement of our confidence in Nigeria, the Nigerian oil and gas sector, and a tribute to the extremely high-quality management team that we have assembled.

Tony Elumelu, Chairman of Heirs Holdings