RIL exits shale operations in North America

by IANS |

Mumbai, Nov 8 (IANS) Reliance Eagleford Upstream Holding, LP (REUHLP), a wholly owned step-down subsidiary of Reliance Industries Limited (RIL), has announced the signing of agreements with Ensign Operating III, LLC (Ensign), a Delaware Limited liability company, to divest its interest in certain upstream assets in the Eagleford shale play in Texas, the US.

With this transaction, Reliance has divested all its shale gas assets and has exited from the shale gas business in North America.

A purchase and sale agreement (PSA) was signed between REUHLP and Ensign on November 5 for this sale. The sale is at a consideration higher than the current carrying value of the assets.

Citigroup Global Markets Inc. acted as financial advisor to Reliance, while Gibson and Dunn & Crutcher LLP served as its legal counsel.

Latest News
'Everyone felt Covid's impact in the country', Congress slams govt Fri, Dec 03, 2021, 12:02 AM
Omicron: No case detected in TN so far, says Health Minister Fri, Dec 03, 2021, 12:01 AM
Wanted to give expensive gift to girlfriend, says i-Phone thief Thu, Dec 02, 2021, 11:59 PM
Omicron cases' infected contacts showing mild symptoms: K'taka Health Min Thu, Dec 02, 2021, 11:58 PM
Rajya Sabha passes Dam Safety Bill with amendment Thu, Dec 02, 2021, 11:57 PM
Over one-third wards dominated by females in KMC Thu, Dec 02, 2021, 11:56 PM
Steep fall for ex-Mumbai Police chief Param Bir Singh as suspension announced (Roundup) Thu, Dec 02, 2021, 11:54 PM
Over 1.5 lakh expected to attend PM's rally in Dehradun Thu, Dec 02, 2021, 11:53 PM
Goa BJP chief dares Cong to name minister accused of sex scandal Thu, Dec 02, 2021, 11:53 PM
HC asks Delhi govt to respond on revision of headload workers' wages Thu, Dec 02, 2021, 11:51 PM
Gurugram on alert amid Omicron scare Thu, Dec 02, 2021, 11:50 PM
Over 18 lakh farmers benefited with MSP value of Rs 57,032.03 cr: Govt Thu, Dec 02, 2021, 11:49 PM
Ridership, profit lower than projections for Delhi Metro's Phase 3: CAG Thu, Dec 02, 2021, 11:48 PM
DU Prof who researched on Parkinson's made Fellow of National Academy of Sciences Thu, Dec 02, 2021, 11:45 PM
'Jagdish Thakor to be new Gujarat Pradesh Congress Committee president, Rathwa LOP' Thu, Dec 02, 2021, 11:44 PM