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Shell announces plans to sell $2.1bn shale assets

14 Aug 2014
Royal Dutch Shell plc has announced plans to sell some of its onshore gas assets in Louisiana and Wyoming.

The sale of these assets will see Shell receive approximately $2.1 billion in cash.
Shell will also be adding acreage in Marcellus and Utica shale areas in a deal with Ultra Petroleum.

Shell will acquire 155,000 net acres in the Marcellus and Utica shale areas in Pennsylvania, and receive around $925,000 from Ultra in exchange for 100 percent of Shell's Pinedale asset.
Shell has also agreed to sell its full 100% Haynesville asset for $1.2 billion in cash.

These transactions demonstrate Shell’s commitment to restructuring their North American shale oil and gas portfolio, following the company’s drive to reduce costs and boost revenue by selling $15 billion of assets around the world.