New Delhi: Reliance Industries Ltd.
has been out of the last flake gas assets in the US after agreeing to sell its ownership on Shale Eagleford gas assets for the amount of money kept secret.
Dependence between 2010 and 2013 purchased bets in three upstream exploration joint ventures with Chevron, Pioneer Natural Resources, and Oil and Carrizo Gas, and Central Joint venture with Pioneer.
Midstream refers to processing, storage, transportation and marketing of hydrocarbons.
“Reliance Eagleford Holu Holding, LP, Childhood-Down Children owned by RIL, announced the signing of the agreement with Ensign Operning III, LLC, a Limited Liability Company company Delaware to release its interest in certain upstream assets in the game Afegleford Shale.
Texas, USA,” The company said in a statement.
With this transaction, Reliance has released all the gas assets of the gas and have left the gas shale business in North America, the statement said.
“The Purchase and Sales Agreement has been signed between Reuhlp and Ensign on November 5, 2021, for this sale.
Sales are at a higher consideration of the current asset carrying value,” he said without providing details.
Reliance in 2017 sold the first fragment gas business, Marcellus Shale in Northeastern and Central Pennsylvania, with $ 126 million.
That in 2010 bought 60 percent of the shares in assets of $ 392 million.
In June 2015, the company sold MIDStream Eagle Ford’s joint venture with Pioneer natural resources in the US with $ 1 billion.
Dependence has spent $ 46 million in obtaining a 49.9 percent peg at Eagle Ford and invested $ 208 million further.
In February this year, he agreed to sell all his shares in certain upstream assets in the Shale Marcellus gas assets in Southwest Pennsylvania in the US with $ 250 million.
Reliance was up to 2014 bullish in gas flakes but a decline in crude oil prices since the 2014 hit assessment.
Block gas flakes have suffered far more than conventional oil and gas blocks because they are only economically feasible when prices above certain thresholds.