By Ron Bousso | LONDON
Royal Dutch Shell (RDSa.L) and Anadarko Petroleum (APC.N) are renegotiating their five-year-old joint venture in the Permian shale basin in Texas, Shell Chief Financial Officer Simon Henry said on Thursday.
The 50-50 JV in the Delaware basin, which expires this year, will likely see the operatorship of the asset “consolidated in a different way”, Henry said in an earnings presentation to analysts.
Henry also said that Shell’s position in the Haynesville basin to the east of the Permian, which it acquired through its takeover of BG Group last year, “won’t necessarily stay in our portfolio.”
The Anglo-Dutch oil and gas company is in the midst of a $30 billion global asset disposal program and has previously said it has put up for sale two assets in its U.S. shale portfolio.
Shell plans to make its shale operations in North America and Argentina a major production growth engine in the 2020s.
On Thursday it said it plans to grow its production in the Permian and Fox Creek basin in Canada by some 140,000 barrels per day of oil equivalent in the near-term.
Oil majors including Exxon Mobil (XOM.N) and Statoil (STL.OL) have significantly increased their stakes in U.S. shale in recent months as they seek to profit from the relatively short time and low spending it takes to ramp up production.
(Reporting by Ron Bousso and Karolin Schaps; Editing by Adrian Croft)
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
