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.