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Energy Transfer HS Limited has acquired a 48% working interest in the Kugbo West Marginal Field, strengthening its position in Nigeria's oil and gas sector. The acquisition agreement, finalized on December 8, 2025, was made in partnership with Prime Horizon Energy.

Energy Transfer HS plans to invest $120 million over the next two years to develop the Kugbo West asset, focusing on drilling campaigns, production capacity enhancement, and infrastructure upgrades. This investment aligns with the company's goal to improve domestic access to affordable natural gas. Additionally, discussions for further acquisitions in 2026 are ongoing, as Energy Transfer HS aims to enhance its natural gas reserve portfolio and become a key player in the regional market.