Heirs Oil & Gas purchase from Shell

Heirs Oil & Gas purchase from Shell

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.

McDaniel & Associates is pleased to have been the sole technical advisor to Standard Chartered Bank and other syndicate of lending institutions in one of the largest oil and gas financings in Africa in more than a decade.

320,000 net acres

$800 million

$20,000/Flowing BOE


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