Shell has sold two of its assets in two bumper deals.
Europe’s largest oil company agreed a $2.1billlion price tag for two natural gas assets in Wyoming and Louisiana. It also managed to shift its shale acreage in Pennsylvania.
Ultra Petroleum snapped up Shell’s Pinedale acreage in Wyoming and 155,000 acres in Pennsylvania’s Marcellus and Utica shales for $925million. Vine Oil & Gas purchased Shell’s assets in the Haynesville area of Louisiana for $1.2billion.
Both deals slot into Shell’s $15billion divestiture plan.
“We continue to restructure and focus our North America shale oil and gas portfolio,” Marvin Odum, Shell’s upstream Americas director, said.
“We are adding highly attractive exploration acreage, where we have impressive well results in the Utica, and divesting our more mature, Pinedale and Haynesville dry gas positions.”