Reliance Industries divests all US shale assets

USA

HOUSTON, November 9, 2021 – Reliance Industries has announced the sale of its Eagle Ford shale plays to Ensign Operating III, the Indian multinational announced on Monday.

The acquired 251-square-kilometre asset in Texas produces 18,000 boepd.

 

The agreement was signed on November 5, 2021.

Cost of the sale was not disclosed, although Reliance Industries said the sale was considerably higher than the current value of assets.

The move effectively retires India’s largest private sector company from shale gas plays in North America.

In February Reliance Industries announced the sale of its shares in the Marcellus shale development in Pennsylvania for USD 250 million.

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