Vitol Said to Be in Talks to Sell Shale Unit to Carnelian, EnCap

Vitol Group is in late stage talks to sell its shale oil venture VTX Energy Partners LLC to a consortium of two private equity buyers - Carnelian Energy Capital and...

By David Carnevali, Lucia Kassai and Archie Hunter · Bloomberg Markets

Vitol Group is in late stage talks to sell its shale oil venture VTX Energy Partners LLC to a consortium of two private equity buyers - Carnelian Energy Capital and EnCap Investments, a deal that would mark a scaling back for the trader in US upstream oil and gas production.