Daily Management Review

Reuters: Shell sets to sell $10bn worth of oil fields in the US


The British-Dutch company Royal Dutch Shell is considering selling its assets in the Permian Basin, the largest oil-bearing basin in the US, located in the states of Texas and New Mexico.

Raysonho @ Open Grid Scheduler / Grid Engine
Raysonho @ Open Grid Scheduler / Grid Engine
This was reported by Reuters, citing sources familiar with the situation. It is about company-owned fields with a total area of about 105 hectares, located mainly in Texas. 

According to Reuters sources, the value of these assets is up to $10 billion. It is not known with whom Shell is in talks, according to the sources, there is no certainty that the negotiations will be successful.

On the one hand, selling these assets to Shell could help it concentrate on its most profitable oil and gas assets (shale deposits in the USA, which account for about 6% of its oil and gas production, are not the most profitable asset for Shell), and on the other hand, to make its operations more environmentally friendly and reduce harmful emissions. 

At the end of May, a Dutch court ordered Shell to almost halve its emissions.

source: reuters.com