Citadel Seeks U.S. Shale Assets Amid Global Supply Chain Disruptions

Citadel, a prominent hedge fund and commodities trader, is reportedly shopping for U.S. oil production assets in a bid to expand its physical presence in the energy market.

The move comes as the firm seeks to diversify its business and capitalize on the growing demand for oil amidst ongoing global supply chain disruptions.

Citadel's interest in U.S. shale assets follows a previous bid for WildFire Energy, which was ultimately acquired by Magnolia Oil & Gas for $4.06 billion in July.

The firm is said to have held talks with private-equity owners of oil-weighted exploration and production companies, with one potential deal reportedly offering 53,000 barrels of oil equivalent per day (boepd) of production, about 70% of which would be oil, along with 810,000 net acres in South Texas.