Porter Hedges Represents Sabana Haynesville in its Sale of Unconventional Gas Assets in Texas to Mitsui E&P USA

Porter Hedges represented Sabana Haynesville, LLC (“Sabana”), who along with Vanna Production, LLC (“Vanna”), sold unconventional gas assets in Texas to Mitsui E&P USA LLC (“MEPUSA”), which is the US-based subsidiary of Tokyo-based Mitsui & Co., Ltd. (“Mitsui”) for an undisclosed sum. The transaction closed on June 21, 2024.

The transaction involved the sale of a 75% working interest in 46,500 net leasehold acres in the Western Haynesville unconventional gas basin in Leon and Freestone Counties. The transaction documents included an Operating Agreement pursuant to which MEPUSA, as Operator, will drill wells and market the production on behalf of all three parties.

For additional details, please see the Mitsui press release here.