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Shell Sells Eagle Ford Assets as Part of Global Repositioning
Industry Segment: Production | Word Count: 904 Words
Attachment: US Wellhead Prices, June 2014
SUGAR LAND--June 23, 2014--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Royal Dutch Shell plc (NYSE:RDS-A) (The Hague, Netherlands) is selling its acreage in the Eagle Ford Shale to Sanchez Energy Corporation (NYSE:SN) (Houston, Texas) for about $639 million, continuing the super-major's asset sales and portfolio repositioning. Shell bought that acreage a few years back for an estimated $1 billion. Last summer, the super-major took a $2.1 billion write-down on the value of its Eagle Ford assets.
Other companies featured: BP plc (NYSE:BP), Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM)
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