Sep 21st, 2021
by John Donovan.
Shell exits Permian with $9.5 bln Texas shale sale to ConocoPhillips
By David French , Jessica Resnick-ault Reuters
Royal Dutch Shell said on Monday it would sell its Permian Basin assets to ConocoPhillips for $9.5 billion in cash, an exit from the largest U.S. oilfield for the energy major shifting its focus to the clean energy transition.
For ConocoPhillips, it is the second sizable acquisition in a year in the heart of the U.S. shale industry, as American and European producers diverge in whether to focus on hydrocarbons going forward. read more
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Sep 21st, 2021
by John Donovan.
The Times
Shell offloads Permian Basin assets to ConocoPhillips for $9.5bn
Callum Jones, US Business Correspondent: Tuesday September 21 2021
Royal Dutch Shell pledged to return more than £5 billion to shareholders after selling out of America’s largest oilfield.
The Anglo-Dutch oil company has agreed to offload its operations in the Permian Basin to ConocoPhillips for $9.5 billion in cash.
The energy group had spent the summer considering its future in what has been deemed the world’s most important oil and gas site, having pledged to take bold action to reduce carbon emissions amid mounting pressure from campaigners. read more
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