Vitol Group is reportedly in advanced discussions to divest its shale oil venture, VTX Energy Partners LLC. The potential buyers are a consortium of private equity firms, specifically Carnelian Energy Capital and EnCap Investments.

This proposed transaction signifies a significant strategic shift for Vitol, indicating a potential scaling back of its involvement in the US upstream oil and gas production sector. The deal, if finalized, would represent one of the largest private equity transactions in the US shale space in recent times.

VTX Energy Partners, Vitol's shale arm, has been operational in key US basins. The sale would allow Vitol to streamline its operations and focus on other areas of its global energy trading business. Both Carnelian and EnCap are established players in the energy investment landscape, with a history of backing upstream ventures.

Sources close to the matter suggest that the valuation of VTX Energy Partners could be in the hundreds of millions of dollars, though specific figures remain undisclosed. The negotiations are said to be nearing completion, with an announcement potentially expected in the coming weeks.